Author: Simon TièchePublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Thèse. HEC. 2023
Three Essays in International Economics and Finance
Author: Simon TièchePublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Thèse. HEC. 2023
Three Essays on Economic Development and International Economics
Author: Abdulrhman Mohmmad AlamoudiPublisher:
ISBN:
Category : Bride price
Languages : en
Pages : 0
Book Description
Intervention, Interest Rates, and Charts
Author: Mr.Mark P. TaylorPublisher: International Monetary Fund
ISBN: 1451947038
Category : Business & Economics
Languages : en
Pages : 31
Book Description
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.
Three Essays in International Finance and Financial Economics
Author: Xiaoqiang HuThree Essays in International Financial Economics
Author: Kolja JohannsenPublisher:
ISBN:
Category : Foreign exchange futures
Languages : en
Pages : 376
Book Description
Three Essays in International Finance and Econometrics
Author: Chien Nan WangPublisher:
ISBN:
Category : Econometrics
Languages : en
Pages : 386
Book Description
Three Essays on Macroeconomic and International Finance Issues
Author: Unja ChaeThree Essays on International Economics and Finance
Author: Juan Antonio MontecinoPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
This dissertation studies the macroeconomic and social impacts of two increasingly common macroeconomic policies: restrictions on international capital mobility -- capital controls -- and so-called unconventional monetary policy -- often referred to as "quantitative easing." The consensus view is that capital controls can effectively lengthen the maturity composition of capital inflows and increase the independence of monetary policy but are not generally effective at reducing net inflows and influencing the real exchange rate. The first essay presents empirical evidence that although capital controls may not directly affect the long-run equilibrium level of the real exchange rate, they may enable disequilibria to persist for an extended period of time relative to the absence of controls. Allowing the speed of adjustment to vary according to the intensity of restrictions on capital flows, it is shown that the real exchange rate converges to its long-run level at significantly slower rates in countries with capital controls. The second essay studies the social welfare implications of capital controls when controls are imperfectly binding and financial markets actively aim to bypass regulation. I consider a series of models of a small open economy featuring a "Dutch disease" externality arising from excessive capital inflows, as well as strategic interactions between a regulatory authority attempting to enforce capital controls and a financial sector attempting to evade them. The models suggest that capital controls, by internalizing externalities associated with capital inflows, can improve welfare relative to a "laissez-faire" benchmark even when these are imperfectly binding. The third and final essay uses data from the Federal Reserve's Tri-Annual Survey of Consumer Finances (SCF) to study the distributional impacts of quantitative easing in the U.S. since the 2008-9 financial crisis. I decompose the change in the distribution of income into three key impact channels of QE policy: 1) the employment channel 2) the asset appreciation and return channel, and 3) the mortgage refinancing channel. The results suggest that while employment changes and mortgage refinancing were equalizing, these impacts were nonetheless swamped by the large dis-equalizing effects of asset appreciations.
Three Essays on International Economics
Author: Toshiaki ShinozakiPublisher:
ISBN:
Category :
Languages : en
Pages : 206
Book Description
Abstract: My dissertation consists of three papers on international finance, international economics, and labor economics. The first paper develops a stochastic general equilibrium model to understand the effects of default risk on output, consumption, investment, and current account deficits in emerging markets. The second paper studies how market structure affects exchange-rate pass-through. This analysis is empirical as well as theoretical, using a partial equilibrium model. The third paper develops a model to study relative wages across different educational levels in developed countries. The model in my first paper features endogenous default risk. Its calibration results explain a number of important stylized facts about emerging economies, including the negative correlation between investment and net exports, the procyclicality of investment, and the potential for current account reversals. The second paper compares exchange-rate pass-through under perfect competition and oligopoly, showing that the two different market structures have opposite effects on this currency pricing behavior. The paper's empirical test, whether implemented on the basis of a partial equilibrium framework or on the model's general equilibrium framework, finds support for perfect competition. The third paper uses differences within and across industries in education wage premiums to study factors affecting those premiums. The paper begins by showing that within-industry as opposed to cross-industry educational wage premiums explain most of developed country differences in wages by education. It then develops a theoretical model and an empirical testing strategy, using U.S. and Japanese data, to examine whether the use of IT capital and the decision to outsource affect the education-wage premium. The answer is mixed depending on the country in question.
Author: Mengdi Song