Financial stress transmission in EMU sovereign bond market volatility: a connectedness analysis

This paper measures the connectedness in EMU sovereign market volatility between April 1999 and January 2014, in order to monitor stress transmission and to identify episodes of intensive spillovers from one country to the others. To this end, we first perform a static and dynamic analysis to measure the total volatility connectedness in the entire period (the system-wide approach) using a framework recently proposed by Diebold and Yılmaz (2014). Second, we make use of a dynamic analysis to evaluate the net directional connectedness for each country and apply panel model techniques to investigate its determinants. Finally, to gain further insights, we examine the timevarying behaviour of net pair-wise directional connectedness at different stages of the recent sovereign debt crisis.

Volatility spillovers in EMU sovereign bond markets

We analyse volatility spillovers in EMU sovereign bond markets. First, we examine the unconditional patterns during the full sample (April 1999-January 2014) using a measure recently proposed by Diebold and Yılmaz (2012). Second, we make use of a dynamic analysis to evaluate net directional volatility spillovers for each of the eleven countries under study, and to determine whether core and peripheral markets present differences. Finally, we apply a panel analysis to empirically investigate the determinants of net directional spillovers of this kind.

EU-15 sovereign governments’ cost of borrowing after seven years of monetary union

Yield spreads over 10-year German government securities of the EU-15 countries converged dramatically in the seven years after the beginning of Monetary Integration. In this paper, we investigate the relative influence of systemic and idiosyncratic risk factors on their behaviour. Our conclusions suggest that in EMU-countries the relative importance of domestic risk factors (both credit and liquidity risk factors) is higher than that of international factors, which appear to play a secondary but significant role in non-EMU countries.

A dynamic analysis of asymmetric shocks in EU manufacturing

Available empirical evidence regarding the degree of symmetry between European economies in the context of Monetary Unification is not conclusive. This paper offers new empirical evidence concerning this issue related to the manufacturing sector. Instead of using a static approach as most empirical studies do, we analyse the dynamic evolution of shock symmetry using a state-space model. The results show a clear reduction of asymmetries in terms of demand shocks between 1975 and 1996, with an increase in terms of supply shocks at the end of the period.

Market of biomass fuels in Finland : IEA Bioenergy Task 40 and EUBIONET III - Country report of Finland 2009

This study considered the current situation of solid and liquid biomass fuels in Finland. The fact that industry consumes more than half of the total primary energy, widely applied combined heat and power production and a high share of solid biomass fuels in the total energy consumption are specific to the Finnish energy system. Wood is the most important source of bioenergy in Finland, representing 20% of the total energy consumption in 2007. Almost 80% of the woodbased energy is recovered from industrial by-products and residues. As a member of the European Union, Finland has committed itself to the Union’s climate and energy targets, such as reducing its overall emissions of green house gases to at least 20% below 1990 levels by 2020, and increasing the share of renewable energy in the gross final consumption. The renewable energy target approved for Finland is 38%. The present National Climate and Energy Strategy was introduced in November 2008. The strategy covers climate and energy policy measures up to 2020, and in brief thereafter, up to 2050. In recent years, the actual emissions have exceeded the Kyoto commitment and the trend of emissions is on the increase. In 2007, the share of renewable energy in the gross final energy consumption was approximately 25% (360 PJ). Without new energy policy measures, the final consumption of renewable energy would increase to 380 PJ, which would be approximately only 31% of the final energy consumption. In addition, green house gas emissions would exceed the 1990 levels by 20%. Meeting the targets will need the adoption of more active energy policy measures in coming years. The international trade of biomass fuels has a substantial importance for the utilisation of bioenergy in Finland. In 2007, the total international trading of solid and liquid biomass fuels was approximately 77 PJ, of which import was 62 PJ. Most of the import is indirect and takes place within the forest industry’s raw wood imports. In 2007, as much as 21% of wood energy was based on foreign-origin wood. Wood pellets and tall oil form the majority of export streams of biomass fuels. The indirect import of wood fuels peaked in 2006 to 61 PJ. The foreseeable decline in raw wood import to Finland will decrease the indirect import of wood fuels. In 2004– 2007, the direct trade of solid and liquid biomass fuels has been on a moderate growth path. In 2007, the import of palm oil and export of bio-diesel emerged, as a large, 170 000 t/yr biodiesel plant came into operation in Porvoo.

Sindicats associacions i sigles

Mapa sindical de Girona. Tan globals a nivell de província com separades per comarques. Amb dades de nombre de delegats així com dels percentatges

Introducing Continuous Integration for C and C++ Software Development Projects on Linux Platform

Software integration is a stage in a software development process to assemble separate components to produce a single product. It is important to manage the risks involved and being able to integrate smoothly, because software cannot be released without integrating it first. Furthermore, it has been shown that the integration and testing phase can make up 40 % of the overall project costs. These issues can be mitigated by using a software engineering practice called continuous integration. This thesis work presents how continuous integration is introduced to the author's employer organisation. This includes studying how the continuous integration process works and creating the technical basis to start using the process on future projects. The implemented system supports software written in C and C++ programming languages on Linux platform, but the general concepts can be applied to any programming language and platform by selecting the appropriate tools. The results demonstrate in detail what issues need to be solved when the process is acquired in a corporate environment. Additionally, they provide an implementation and process description suitable to the organisation. The results show that continuous integration can reduce the risks involved in a software process and increase the quality of the product as well.

Altistuminen PAH-yhdisteille kreosoottikyllästetyn puun käsittelyssä

Tässä työssä selvitettiin altistutaanko kreosoottikyllästetyn puun käsittelyssä polysyklisille aromaattisille hiilivedyille ja mistä työsuojelullisista syistä altistumista tapahtuu. Lisäksi työssä selvitettiin mitä altistuminen tarkoittaa työnantajan kannalta. Altistumista tarkasteltiin työturvallisuuden näkökulmasta. Lähtöaineisto koostui maastossa toteutetuista tutkimuksista. Aineisto kerättiin kesällä 2009 kolmesta Itä-Suomessa sijaitsevasta kohteesta, joissa käsiteltiin kreosootilla kyllästettyä puuta. Altistumisen todentamiseksi tutkimukseen osallistuneilta työntekijöiltä pyydettiin virtsanäytteet, joista analysoitiin yhden yleisimmän PAH-altistumista indikoivan merkkiaineen, virtsan 1-pyrenolin pitoisuuksia työntekijöillä. Altistumisen syiden selvittämiseksi työntekijöitä haastateltiin ja havainnoitiin. Tulosten perusteella työntekijät altistuvat PAH-yhdisteille työssään. PAH-altistumisen merkkiaineena olleelle virtsan 1-pyrenolille ei toimenpiderajaa tällä hetkellä ole, mutta se on Työterveyslaitoksella suunnitteilla. Lainsäädäntö velvoittaa erinäisin toimenpitein työnantajaa minimoimaan työntekijöiden altistumisen syöpäsairauden vaaraa aiheuttaville aineille, kuten PAH-yhdisteille. Tulosten perusteella työsuojelutoimenpiteitä on syytä tehostaa altistumisen minimoimiseksi ja etenkin ihon suojaamiseen on syytä kiinnittää erityistä huomiota.

Fragment d'un discours d'une méthode

Ce qui suit est le début de la présentation d'une sélection de mes articles, traduits en portugais, et supposés représentatifs de la "méthode" que j'ai pratiquée dans mes publications. J'y retrace en détail deux épisodes déjà anciens de "l'histoire de mon esprit" (si j'ose employer une expression de Descartes), qui ont fortement influencé mes travaux ultérieurs, en m'incitant à tout faire pour concilier le respect de la "lettre" avec le souci de "l'esprit", et l'attention aux genèses avec l'analyse des structure.

Magneettisairaalan työnantajakuvan merkitys lääkäri- ja sairaanhoitajaopiskelijoiden näkökulmasta tarkasteltuna

Tämä tutkimus tarkastelee valmistumassa olevien lääkäri- ja sairaanhoitajaopiskelijoiden näkemyksiä terveydenhuollon työnantajakuvaan ja sen vetovoimaisuuteen liittyen. Tarkastelun näkökulmina ovat strateginen henkilöstövoimavarojen johtaminen, rekrytointiprosessi ja motivaatio työhön hakeutumisessa. Aihetta on tutkittu toistaiseksi vähän terveydenhuollon opiskelijoiden näkökulmasta. Laadullisen tutkimuksen teoreettinen osuus toteutettiin kyselylomakkeella. Kyselylomakkeen vastausten (n=14) analyysissä käytettiin sisällönanalyysiä. Tulosten mukaan voidaan todeta, että terveydenhuollon työnantajakuvalla on melko suuri merkitys lääkäreiden ja sairaanhoitajien työhön hakeutumisessa. Työpaikan vetovoimaisuutta lisäävät tekijät liittyvät esimiehen hyviin johtamistaitoihin, ammatillisen osaamisen kehittämisen mahdollisuuksiin ja kilpailukykyiseen palkkaukseen. Lisäksi työpaikan sijainnilla ja tehtävän sisällöllä on vaikutusta työpaikkaan hakeutumisessa. Vetovoimaisuutta vähentävät vastaavasti huono työilmapiiri, huono palkka, esimiehen heikot johtamistaidot sekä konsultaatiomahdollisuuksien puute. Rekrytointiprosesseissa ja työnantajan markkinoinnissa on vaihtelua eri työnantajien välillä.

Hvordan øve hellige handlinger? : en profesjonsdidaktisk studie av øving av muntlige ferdigheter innenfor en norsk presteutdanning

How can the holy craft of liturgy be trained? A study of approaches to instruction in training oral skills within education of the Norwegian clergy The theme of this study is the competence of expression of clerics performing liturgies as part of their duties in the Norwegian Lutheran Church. The aim of the study is to find a teaching practice which can raise the competence in oral expression characteristic of the clergy profession. The teaching practice is explored and discussed within the context of the basic education of the clergy. The main thesis is formulated as a question: How can the holy craft of liturgy be trained? An underpinning of the study is that liturgical acts are holy, which gives these performances an aspect of otherness. This otherness constitutes a clear agreement between the students and the teacher, and between the professional and the employer. The pre-understanding of the researcher is that these liturgical oral acts are trainable, and that there is a need and a necessity to train in these skills. Three research questions are elaborated on in the explorative section of the study: • What is characteristic of a competence of expression connected to the profession? • How can this competence of expression connected to liturgical performance be developed? • What is the importance of this competence in the holy craft of liturgy for the development of a cohesive professional self-understanding? The study is based on a research and development project where the researcher as the teacher and students from one specific clergy education in Norway (MF) were the source of the empirical material. The empirical data came from practice with two external observers› logs on the coaching, video observations, of the teacher and the students› texts on the practice under study, which is liturgical performance. The researcher›s log and field notes also provide material for the analysis. This is a qualitative project and an arts education project carried out within an interpretative framework. The theoretical framework has three perspectives: a structural approach based on the system theory of Niklas Luhmann, an epistemological approach discussing forms of knowledge in practice or informing practice and an arts education approach. The results indicate that the competence in oral liturgical performance can be considered a trainable skill, and that this training can be understood as an arts education method of instruction based on meaningful communication, dramaturgical thinking and the development of authenticity. The main result from this study can be considered as articulating and sketching the contours of the field of knowledge where the students embody the meaning of the clergy profession ‒ and this articulation has an innovative potential as knowledge combining experience and theoretical understanding.

Työmatkaliikkumissuunnitelma Turun yliopistolliselle keskussairaalalle

Tämän työn tavoitteena on luoda Turun yliopistolliselle keskussairaalalle kestävän kehityksen mukainen työmatkaliikkumissuunnitelma, jonka avulla lisätään kestävien liikkumismuotojen käyttöä, kustannusnäkökulma huomioon ottaen. Lisäksi tavoitteena on ratkaista nykyisen pysäköintijärjestelyn ongelmia. Työn teoriaosuudessa on esitetty kestävän liikkumisen, työssä hyödynnettävän kustannuslaskennan ja liikkumissuunnitelman luomisen vaiheiden periaatteet. Empiriaosuudessa rakennettava liikkumissuunnitelma perustuu näihin teorioihin. Työn keskeisenä tutkimusmenetelmänä on käytetty Webropol-pohjaista kyselyä, jolla tutkittiin työmatkaliikkumisen nykytilaa. Lisäksi kyselyllä tutkittiin työntekijöiden mielipiteitä mahdollisista kehitystoimenpiteistä. Työntekijöiden vuosittaisista työmatkakilometreistä 16,9 miljoonaa kuljettiin yksityisautolla, mikä on noin 65 % kaikista työmatkakilometreistä. Yksityisautoilu aiheuttaa kulkumuodoista suurimmat päästöt kaikissa päästöluokissa. Pysäköinnin kustannuksia tutkittaessa havaittiin, että pysäköintioikeuden hinta on alhainen verrattuna parkkihallin rakennus- ja ylläpitokustannuksiin. Eri liikkumistapoja vertailtaessa havaittiin, että nykytilanteessa yksityisautoilu on lyhyillä työmatkoilla edullisempi kulkumuoto kuin julkinen liikenne. Toteutettavuus-vaikuttavuus-suhde huomioon ottaen, parhaimmat työmatkaliikkumisen kehitystoimenpiteet ovat osittain kustannettu työsuhdematkalippu työntekijöille, lukittavien pyörätelineiden sijoittaminen työpaikan välittömään läheisyyteen, kävely- ja pyöräreittien parempi talvikunnossapito, työnantajan kustantama vuosittainen polkupyörähuolto ja pysäköintioikeuden hinnankorotus. Toimenpiteiden jälkeen yksityisautoilu on kaikilla työmatkan pituuksilla kallein liikkumismuoto.

Impersonal trust within the organization: what, how and why?

It has been shown in organizational settings that trust is a crucial factor in different kinds of outcomes, and consequently, building employee trust in the employer is a goal for all kinds of organizations. Although it is recognized that trust in organizations operates on multiple levels, at present there is no clear consensus on the concept of trust within the organization. One can have trust in particular people (i.e. interpersonal trust) or in organized systems (i.e. impersonal trust). Until recently organizational trust has been treated mainly as an interpersonal phenomenon. However, the interpersonal approach is limited. Scholars studying organizational trust have thus far focused only on specific dimensions of impersonal trust, and none have taken a comprehensive approach. The first objective in this study was to develop a construct and a scale encompassing the impersonal element of organizational trust. The second objective was to examine the effects of various HRM practices on the impersonal dimensions of organizational trust. Moreover, although the “black box” model of HRM is widely studied, there have been only a few attempts to unlock the box. Previous studies on the HRM-performance link refer to trust, and this work contributes to the literature in considering trust an impersonal issue in the relationship between HRM, trust, and performance. The third objective was thus to clarify the role of impersonal trust in the relationship between HRM and performance. The study is divided into two parts comprising the Introduction and four separate publications. Each publication addresses a distinct sub-question, whereas the Introduction discusses the overall results in the light of the individual sub-questions. The study makes two major contributions to the research on trust. Firstly, it offers a framework describing the construct of impersonal trust, which to date has not been clearly articulated in the research on organizational trust. Secondly, a comprehensive, psychometrically sound, operationally valid scale for measuring impersonal trust was developed. In addition, the study makes an empirical contribution to the research on strategic HRM. First, it shows that HRM practices affect impersonal trust and the contribution is to consider the HRM-trust link in terms of impersonal organizational trust. It is shown that each of the six HRM practices in focus is connected to impersonal trust. A further contribution lies in unlocking the black box. The study explores the impersonal element of organizational trust and its mediating role between HRM practices and performance. The result is the identification of the path by which HRM contributes to performance through the mediator of impersonal trust. It is shown that the effect on performance of HRM designed specifically to enhance employees’ impersonal trust in the organization is positive.

Future prospects of short distance rail based passenger transport in Northern Europe

The worlds’ population is increasing and cities have become more crowded with people and vehicles. Communities in the fringe of metropolitans’ increase the traffic done with private cars, but also increase the need for public transportation. People have typically needs traveling to work located in city centers during the morning time, and return to suburbs in the afternoon or evening. Rail based passenger transport is environmentally friendly transport mode with high capacity to transport large volume of people. Railways have been regulated markets with national incumbent having monopoly position. Opening the market for competition is believed to have a positive effect by increasing the efficiency of the industry. National passenger railway market is opened for competition only in few countries, where as international traffic in EU countries was deregulated in 2010. The objective of this study is to examine the passenger railway market of three North European countries, Sweden, Denmark and Estonia. The interest was also to get an understanding of the current situation and how the deregulation has proceeded. Theory of deregulation is unfolded with literature analyses and empirical part of the study is constructed from two parts. Customer satisfaction survey was chosen as a method to collect real life experiences from the passengers and measure their knowledge of the market situation and possible changes appeared. Interviews of experts from the industry and labor unions give more insights and able better understanding for example of social consequences caused from opening the market for competition. Expert interviews were conducted by using semi-structured theme interview. Based on the results of this study, deregulation has proceeded quite differently in the three countries researched. Sweden is the most advanced country, where the passenger railway market is open for new entrants. Denmark and Estonia are lagging behind. Opening the market is considered positive among passengers and most of the experts interviewed. Common for the interviews were the labour unions negative perspective concerning deregulation. Despite the fact deregulation is considered positive among the respondents of the customer satisfaction survey, they could not name railway undertakings operating in their country. Generally respondents were satisfied with the commuter trains. Ticket price, punctuality of trains and itinerary affect the most to customer satisfaction.

Ammattiliitot makrotaloudessa - voimavara vai rasite?

Tutkielman tavoite oli kuvata ammattiliittojen vaikutusta makrotalouteen. Ammattiliittojen voimaa pyrittiin kuvaamaan työvoiman järjestäytymisasteella muiden mittareiden ollessa kansantalouden inflaatio, työttömyys ja kokonaistuottavuus. Aineisto kattoi 20 OECD-maata, joiden tilastoista koottiin paneeliaineisto. Aineisto kattoi vuodet 1990-2010. Erilaisten liittojärjestelmien vuoksi maat jaettiin neljään eri luokkaan, joita verrattiin keskenään. Paneeliaineistoa tutkittiin kiinteiden vaikutusten sekä satunnaisten vaikutusten mallilla. Tulokset myötäilivät hyvin alan teorioita; tavallisesti vahvat ammattiliitot lisäsivät inflaatiota ja työttömyyttä. Merkittävämmäksi seikaksi nousi järjestäytymisasteen ja kansantalouden tuottavuuden välinen positiivinen korrelaatio. Silti ammattiyhdistysliikkeen kansantaloudellinen merkitys näytti näiden todisteiden valossa olevan negatiivinen, joten taloudellisesti ajatellen ne eivät ole mielekkäitä; jos AY-liikkeelle haluaa löytää perustellun aseman yhteiskunnassa, on se tehtävä jostakin muusta tutkimusnäkökulmasta kuin kansantaloustieteellisestä.