Download or read book Three Empirical Essays in Financial Economics and International Finance written by Marek Kolar and published by . This book was released on 2008 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Empirical Essays in International Financial Economics written by Nobuya Takezawa and published by . This book was released on 1995 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Empirical Essays on International Finance and Trade written by Hengrui Qu and published by . This book was released on 2006 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation covers two topics. The first essay uses a simultaneous Logit-Tobit model to analyze the congressional voting pattern on U.S. permanent normal trading relations (PNTR) with China in 2000. In particular, we focus attention on whether or not the agricultural lobby had a significant influence on the decision to normalize trade relations.
Download or read book Three essays on empirical finance written by Tse-Chun Lin and published by Rozenberg Publishers. This book was released on 2009 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Intervention Interest Rates and Charts written by Mr.Mark P. Taylor and published by International Monetary Fund. This book was released on 1991-11-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper contains essays on sterilized intervention, on covered interest rate parity, and on chartist analysis in financial markets. Each essay contains a definition, brief survey of the empirical evidence and overall assessment of each topic.
Download or read book Empirical Essays on Financial Economics written by Henrik Degrér and published by . This book was released on 2004 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays in International Finance and Financial Economics written by Xiaoqiang Hu and published by . This book was released on 1994 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in Financial Economics and Econometrics written by Canlin Li and published by . This book was released on 2002 with total page 143 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Finance and Financial Crises written by Peter Isard and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: International Finance and Financial Crises: Essays in Honor of Robert P. Flood, Jr. contains the proceedings of a conference held in honor of Robert P. Flood, Jr. Bob Flood has made important contributions to many areas of economic analysis, including regime switching, speculative attacks, bubbles, stock market volatility, macro models with nominal rigidities, dual exchange rates, target zones, and rules versus discretion in monetary policy. Contributors were invited to address any of the topics or others of their choosing. The results include five papers on topics in international finance; two of these papers, as well as the panel discussion, focus on speculative attacks and financial crises. The other three take new directions in exploring topics in which existing models leave much to be desired.
Download or read book Three Essays in International Finance written by Byong-Ju Lee and published by Stanford University. This book was released on 2011 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis consists of three essays on international finance. The first essay is "Exchange rates and Fundamentals". A new open interest rate parity condition that takes account of economic fundamentals is developed from stochastic discount factors (SDFs) of two countries. Through this parity condition, business cycles or fundamentals are linked to exchange rates. Key empirical findings from this parity condition are as follows. First, this model beats the random walk hypothesis: economic fundamentals explain exchange rate movements for high interest rate currencies. Exchange rates of low interest rate currencies act like a random walk because they are less correlated with fundamentals owing to their low risk. For example, U.S. business cycles explain the direction of changes in exchange rates against the dollar. The same thing is true for Japan. Second, this model resolves the forward premium puzzle: the forward premium puzzle is not a general characteristic as regarded in previous studies. It happens when the risk awareness of investors is low, during economic expansions and for low risk currencies. The second essay is "Carry Trade and Global Financial Instability". Carry trade, an opportunistic investment strategy that takes advantage of interest rate differential across countries, is identified the cause of the large-scale depreciations of peripheral currencies in the later half of 2008. A simultaneous equations model, which is derived from a conceptual partial equilibrium model for a local foreign exchange market, is estimated from a cross-sectional sample. The results suggest that the larger appreciation of the yen than the dollar was brought about by a lack of the local supply of the yen rather than a more severe crunch of yen credits. The third essay is "The Economic Origin of Letters of Credit". This essay discusses the economic origin of letters of credit, an instrument widely used in international trade. A game theoretical analysis shows that letters of credit improve efficiency in trade settlements, increasing returns in trade. A few notable facts on letters of credit are discussed. First, the new institution is adopted by merchant banks to maximize their profits and in the process, an improvement in efficiency of international transactions is obtained. Second, the organization established by the legacy institution, bills of exchange, played a critical role in adopting the new institution. Third, the legal enforcement is not essential in this economic institution. Finally, two drivers are identified that improve efficiency of transactions: concentration and projection.
Download or read book Essays in Financial Economics written by Haofei Zhang and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis consists of three essays on financial markets, product markets, information markets, and their interaction. Chapter 1 offers an introduction of the essays and summarizes the main findings. Chapter 2 studies how product markets shape managerial short-termism (myopia). It shows that under market competition, managerial short-termism may arise endogenously as a means for firms to commit to competing aggressively. Such managerial short-termism is facilitated by financial markets as firms tie their managers' pay to the short-term stock prices. The following two chapters focus on the interaction between financial markets and information markets; both chapters demonstrate that information markets are crucial in determining asset prices and market quality in financial markets. Chapter 3 develops an information-sales model in which investors acquire uncertain skills to interpret purchased data, thereby changing the behavior of data sellers. It leads to several novel results (e.g., price informativeness increases with skill-acquisition costs), which help clarify certain empirical regularities. Chapter 4 examines sales of financial market information in an economy with two information sellers. In equilibrium, the two sellers form either orthogonal or overlapping clientele, depending on the similarity of the information to be sold. When the two sellers' information is very distinct and the sellers have relatively large bargaining power in sharing trading profits, investors' information purchase behavior exhibits complementarity, leading to the possibility of multiple equilibria.
Download or read book 3 Essays in Empirical Financial Economics written by Terence Meng-Jake Lim and published by . This book was released on 1998 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Empirical Monetary and Financial Economics written by Yucheng Jiang and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in Empirical Financial Economics written by Jean-Noël Barrot and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is made of four distinct chapters. In the first chapter, I consider an exogenous restriction on the ability of French trucking firms to extend payment terms to their clients. I find that they provide trade credit at the cost of lower investment, lower return on assets, and higher default risk. In the second chapter, I show that private equity funds with a longer horizon select younger companies at an earlier stage of their development. Companies which receive funding from funds with a longer horizon increase their patent stock significantly more than companies which receive funding from investors with a shorter horizon. The third chapter presents a joint work with Ron Kaniel and David Sraer. We use detailed brokerage account data to provide a quantitative exploration of the behavior of retail investors during the financial crisis of 2008. We show that investors who appear more sophisticated on these dimensions in the pre-crisis period were, in the post-crisis period, less likely to flee to safety, more likely to engage in liquidity provisions and to earn higher returns. In the fourth chapter, I develop the idea that households have an imprecise knowledge of their portfolio's exposure to systematic risk and that this leads them to make investment mistakes. This idea is tested in the context of the decision to actively trade rather than passively invest in the stock market.
Download or read book Three Essays in Financial Economics written by Biplab K. Ghosh and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in International Money and Finance written by James R Lothian and published by World Scientific. This book was released on 2017-06-29 with total page 820 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of the book is to make the author's scholarly research in the areas of international finance and monetary economics easily accessible to other researchers and students. The articles included in the book span a wide range. The topics include the behavior of the three key relations in international finance, purchasing power parity, interest rate parity and real interest rate equality, the relation between money and other key economic variables, financial globalization and the transmission of economic disturbances internationally.
Download or read book Three Essays in International Economics written by Irina Balteanu and published by . This book was released on 2009 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
