Publikationer från Umeå universitet
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Linking ECB Policy to Bank and Corporate Decision-Making : Evidence from DFR Transmission to Euribor
No full textThis quantitative study examining the transmission of the European Central Bank’s (ECB) Deposit Facility Rate (DFR) to Euribor across different maturities (1W, 1M, 3M, 6M, 12M) with particular focus on how market expectations, liquidity risk, and credit risk moderate this relationship. Using daily data from 2008 to 2025, this study estimates baseline and extended regression models. The extended model introduces market expectations (OIS rate), liquidity risk (Euribor–EONIA/€STR spread), and credit risk (Euribor–OIS spread) as moderating variables which significantly reshape the effectiveness of policy rate transmission, with effects varying by maturity. Results show that DFR pass-through is strongest for the 1-week Euribor, with limited direct effects on longer maturities. From a managerial perspective, the findings have direct implications for bank treasury operations, particularly in Funds Transfer Pricing (FTP) and ALM strategy. Short-term FTP curves should be adjusted rapidly in response to DFR changes, while longer maturities require adjustments based on prevailing market risk conditions. For corporates with Euribor-linked debt, heightened market expectations or liquidity stress necessitate proactive hedging and refinancing strategies to manage borrowing cost volatility. This thesis contributes to the literature by bridging macro-level monetary policy analysis with micro-level financial decision-making. It highlights that policy effectiveness depends not only on central bank actions but also on market risk dynamics, which determine how quickly and fully benchmark rates adjust. The results provide actionable insights for policymakers, bank managers, and corporate treasurers seeking to navigate interest rate risk in an evolving monetary environment. Keywords: Monetary policy transmission, Deposit Facility Rate, Euribor, ECB, Credit Risk, Liquidity Risk, Market Expectations, Funds Transfer Pricing, asset-liability management, corporate finance
Jämförelse av CSA och sensorisk amplitud i n. suralis och n. fibularis superficialis : Med hjälp av nervultraljud och neurografi
No full textHorizontal stabilization with timber struts : Joint design
No full textAtt ersätta stål med trä i byggnadsstommar kan komma att bli en viktig lösning för att minska klimatpåverkan vid nyproduktion. Trästommar blir allt vanligare, men horisontal-stabiliseringen sker ofta fortfarande med stålstag. Det finns förbättringspotential inom detta område, särskilt i Sverige. Företaget Martinsons Byggsystem AB har gett uppdraget att ta fram ett alternativ där trästrävor ersätter stålstag. Syftet är att ta reda på ifall det i en standardlösning går att minska mängden stål i ett horisontalstabiliserande system i taket på en trästomme. Två nya knutpunkter i ett horisontalstabiliserande system där trästrävor ersätter stålstag har tagits fram. De har dimensionerats efter givna laster. Materialåtgång har sammanställts och miljöpåverkan har tagits fram. Den första lösningen med dymlingar visade god kapacitet i flera delar, men överskred gränsvärden för dimensionerande kapacitet i en brottmod. Utsläppen i denna lösning minskade med 55 % jämfört med referensstommen. Den andra lösningen med plywood och träskruv klarade samtliga belastningar och minskade utsläppen med ca 80 %. Lösningen med dymlingar fick ett utsläpp på 3,1 kg CO₂e/m². Lösningen med plywood och träskruv fick ett utsläpp på 1.2 kg CO₂e/m². Referensstommens utsläpp landade på 6.8 kg CO₂e/m². Träets lägre klimatpåverkan vid framställning av färdig produkt gör att lösningarna ur miljösynpunkt är mycket fördelaktiga. Vidare undersökningar krävs dock för att utvärdera hållfasthet, montering och kostnad. Replacing steel with wood in building frames could be an important solution to curb the climate impact when constructing new buildings. Wooden frames are becoming increasingly common, but horizontal stabilization is often still done with steel struts. There is potential for improvement in this area, especially in Sweden. The company Martinsons Byggsystem AB has initiated the assignment to develop an alternative where wooden struts replace steel struts. The purpose of the study is to find out whether it is possible to reduce the amount of steel in a horizontal stabilizing system in the roof of a wooden frame in a standard solution. Two new nodes in a horizontal stabilizing system where wooden struts replace steel struts have been developed. They have been dimensioned according to given loads. Material consumption has been compiled and the environmental impact has been compiled. The first solution with dowels showed good capacity in several parts, but exceeded the limit values for dimensioning capacity in one of the controls. Emissions in this solution were reduced by 55% compared to the reference frame. The second solution with plywood and wood screws coped with all loads and reduced emissions by approximately 80%. The solution with dowels had an emission of 3.1 kg CO₂e/m². The solution with plywood and wood screws had an emission of 1.2 kg CO₂e/m². The emissions of the reference frame ended up at 6.8 kg CO₂e/m². The lower climate impact of wood when producing the finished product mean that the solutions are very advantageous from an environmental point of view. However, further investigations are required to evaluate strength, installation and cost.
Unpacking the significance of being selected to the Swedish national youth talent system in football : the adult elite footballer’s perspective
No full textTalent identification and development in sport in the youth years take place in multiple settings, including the local club or regional and national initiatives. This study explores adult elite football players’ experiences of being selected to a national football talent programme at the age of 15 and the significance it had for their development as a footballer. The empirical material consists of retrospective interviews with 12 female and 13 male adult elite football players. The findings showed that the meanings attached to being selected and the significance it had for the players vary both within and between genders. One key finding is that the players home club environment at the time of selection affects how they experienced being selected and experienced the selection process. For both male and female players who played with senior players or in a youth elite team, being selected was perceived as having limited educational value to their development as footballers in the long run. However, players from grassroot clubs emphasised the educative value of being selected and its importance for continued commitment and development as a footballer. Overall, the study contributes with perspectives on extracurricular programmes to be developmental environments for youth football players
Uncovering diversity and abundance patterns of CO2-fixing microorganisms in peatlands
No full textMicroorganisms play a crucial role in the carbon (C) dynamics of peatlands — a major terrestrial C reservoir. Because of their role in C emissions, heterotrophic microorganisms have attracted much attention over the past decades. CO2-fixing microorganisms (CFMs) remained largely overlooked, while they could attenuate C emissions. Here, we use metabarcoding and digital droplet PCR to survey microorganisms that potentially fix CO2 in different peatlands. We demonstrate that CFMs are abundant and diverse in peatlands, with on average 1021 CFMs contributing up to 40% of the total bacterial abundance. Using a joint-species distribution model, we identified a core and a specific CFM microbiome, the latter being influenced by temperature and nutrients. Our findings highlight that ASV richness and community structure were direct drivers of CFM abundance, while environmental parameters were indirect drivers. These results provide the basis for a better understanding of the role of CFMs in peatland C cycle inputs
Expanded and unclear responsibilities: the evolving role of home care workers as a lifeline during the COVID-19 pandemic : a focus group interview study
No full textBackground: Home care services, with the aim to support older adults in their homes, faced intense external pressure to create sustainable working conditions for staff during the COVID-19 pandemic. Studies have indicated elevated burnout and stress among residential care staff, and it is likely that similar challenges exist in home care services. Overall, the consequences for staff's work environment and health under the extremely strained conditions of the COVID-19 pandemic merit closer examination. Therefore, the aim is to illuminate home care workers’ experiences of their work environment and health risks while supporting older adults during the COVID-19 pandemic. Methods: To gain an in-depth understanding of personal experiences during the pandemic, five focus group interviews (FG) were held in northern Sweden during spring 2022. Open-ended questions were delivered via a semi-structured interview guide. Thematic analysis was used to guide data analysis. Results: Expanded and unclear responsibilities characterized the work environment during the pandemic. This was summarized into four sub-themes: my own health was jeopardized; a wind of change towards more responsibility; struggling between being a lifeline and being contagious; and organization and management as facilitators or hindrances. Conclusions: The findings underscore the importance of management strategies and organizational preparedness to support staff’s mental health and mitigate challenges during crises. The health risks associated with increased workload, stress, and mental burdens were evident in the narratives. The study emphasizes the need to strive for a good work environment, set priorities to reduce workloads and mental stress, and incorporate time for recovery among staff during crises. It is also of great importance that different authorities in healthcare and social care create effective cooperation so that information, knowledge, and policies are effectively disseminated to frontline staff who have the concrete responsibility for our elderly
Youth Organizations Meet Gen Z: : Adaptions and Challenges in a Mediatized Reality
No full textThis paper aims to examine the work of youth and student political organizations with member recruitment in Västerbotten and how they respond to young people’s changing political engagement and the role of social media. The background of the study lies in the ongoing debate about youth political participation where voter turnout and party involvement decrease. Young people are turning to social media and more individual forms of participation. However, youth political organizations are still seen as an important arena for political recruitment and socialization. The study is based on qualitative semi-structured interviews with representatives from five youth and student political organizations. The material has been analyzed thematically inspired by thematic analysis and guided by Strömbäck’s mediatization theory (dimension 1,3 and 4) and Norris and Lovenduski’s recruitment theory. The result indicated that physical presence at information tables in high schools and university campuses are their most effective method of recruitment and social media is not used to recruit new members but rather to share information about activities, but that social media is seen as a way of lowering the threshold for participation. Factors that promote engagement include interest, socialization, time and access to opportunity structured. Barries to engagement include lack of time, geographic structures and socioeconomic disparities. The organizations have to adapt to the formation of social media. Online hate and threats force political actors to adapt their behavior to media logic. Adopting to the format of social media, which favors short and visual content, can also be perceived as limiting to the depth of political messages. The study confirms the picture of a transformed youth political engagement and highlights the challenges youth political organizations face in adapting their strategies within a digitalized context
NUCLEAR DISARMAMENT VIA UNCONVENTIONAL METHODS : The EU’s Response to Strategic Unpredictability of the JCPOA
No full textThis thesis explores how the European Union (EU) prioritized the continuation of the Joint Comprehensive Plan of Action (JCPOA) in the aftermath of the United States’ abrupt withdrawal from the agreement in 2018. By employing theoretical frameworks of coercive diplomacy and complex interdependence, this thesis explores how the EU has adapted its approach to maintaining the agreement, in regard to how changes have been dealt with to accommodate asymmetrical power relations. Utilizing a deductive approach and process tracing, the study analyzes the EU's political, economic and institutional responses before and after the United States withdrawal. The findings show that the EU has demonstrated a consistent commitment to upholding the objectives set by the JCPOA, by refining existing policies and challenges regarding its autonomy, despite the economic and political hinders presented by the United States. The case presents a hybrid approach toward international relations, characterized by a combination of realist power dynamics and liberal cooperation. This approach shapes behaviors and attitudes when fundamental objectives are challenged by unilateral actions
Deep learning for human locomotion analysis in lower-limb exoskeletons : a comparative study
No full textIntroduction: Wearable robotics for lower-limb assistance is increasingly investigated to enhance mobility in individuals with physical impairments and to augment performance in able-bodied users. A major challenge in this domain is the development of accurate and adaptive control systems that ensure seamless human-robot interaction across diverse terrains. While neural networks have recently shown promise in time-series analysis, no prior work has tackled the combined task of classifying ground conditions into five terrain classes and estimating high-level locomotion parameters such as ramp slope and stair height. Methods: This study presents an experimental comparison of eight deep neural network architectures for terrain classification and locomotion parameter estimation. The models are trained on the publicly available CAMARGO 2021 dataset using inertial (IMU) and electromyographic (EMG) signals. Particular attention is given to evaluating the performance of IMU-only inputs versus combined IMU+EMG data, with an emphasis on cost-efficiency and sensor minimization. The tested architectures include LSTM, CNN, and hybrid CNN-LSTM models, among others. Model explainability is assessed via SHAP analysis to guide sensor selection. Results: IMU-only configurations matched or outperformed those using both IMU and EMG, supporting a more efficient setup. The LSTM model, using only three IMU sensors, achieved high terrain classification accuracy (0.94 ± 0.04) and reliably estimated ramp slopes (1.95 ± 0.58°). The CNN-LSTM architecture demonstrated superior performance in stair height estimation, achieving a accuracy of 15.65 ± 7.40 mm. SHAP analysis confirmed that sensor reduction did not compromise model accuracy. Discussion: The results highlight the feasibility of using lightweight, IMU-only setups for real-time terrain classification and locomotion parameter estimation. The proposed system achieves an inference time of ~2 ms, making it suitable for real-time wearable robotics applications. This study paves the way for more accessible and deployable solutions in assistive and augmentative lower-limb robotic systems. Code and models are publicly available at: [https://github.com/cosbidev/Human-Locomotion-Identification]
Nanoscale chemical imaging of phagocytosis : a battle for metals between host and microbe
No full textThe human body employs nutritional immunity to restrict essential micronutrients, such as zinc, from invading pathogens, impeding their growth and replication. Here, we applied an advanced nanochemical imaging technique, synchrotron radiation-based X-ray fluorescence (SR-XRF), on vitrified polymorphonuclear neutrophils (PMNs) during the occurrence of phagocytosis of Saccharomyces cerevisiae. Nanoscopic SR-XRF provided trace elemental distributions at 50 nm spatial resolution, revealing the metal interplay between PMNs and S. cerevisiae. Our results were complemented with X-ray holographic nanotomography (XNH), confirming phagocytosis and providing complementary intracellular morphological information. A systematic decrease in zinc was observed between free and phagocytosed S. cerevisiae within the same XRF maps, suggesting active zinc depletion by PMNs. Other elements, such as sulfur, show an increase in the phagosome, likely indicative of the increase in proteins in the vicinity of phagocytic events. Through 2D/3D nanoimaging and time-lapse microscopy, we confirmed the reduction of zinc within phagocytosed yeast. Hence, our findings challenge the currently accepted hypothetical model that PMNs intoxicate engulfed microbes with an overwhelming influx of zinc ions into the phagosome. Furthermore, antimicrobial assays demonstrated that S. cerevisiae can cope well with sudden zinc spikes. Even high zinc concentrations imposed on S. cerevisiae grown under zinc-limiting conditions did not have adverse effects on viability. Contrarily, S. cerevisiae was more resistant to phagocytic killing by PMNs when grown under high zinc concentrations before infection. Our findings further consolidate zinc deprivation as an effective antimicrobial strategy. A better understanding of the metal deprivation mechanisms could inspire new exploitable targets for antimicrobial therapies