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Two Essays in Finance

Two Essays in Finance PDF Author: Ward R. Kangas
Publisher: Universal-Publishers
ISBN: 1581120044
Category : Business & Economics
Languages : en
Pages : 144

Book Description
Based on data on publicly traded insurance firms, the first essay examines questions about the effect of large catastrophic events on insurance firms. Rather than looking at a single event, thirty catastrophic events were aggregated into quintiles and the cumulative abnormal returns around these events were found to be significantly positive over a 25 day trading window. There is no significant evidence that post-catastrophic stock returns are correlated to the magnitude of the catastrophe. The second essay analyzes the effect of a large land grant university, the University of Illinois, on the State Treasury of Illinois. If the State Treasury were acting as its own agent trying to maximize revenues, would it choose higher education as an investment versus other alternative investments. While it is true the State makes large expenditures for the operations of the University, it is also true that individuals receiving degrees on average receive higher incomes. Taxes or higher incomes offset the cost of operating the University. The study is broken out by the level of student: undergraduate, masters, doctorate, medical professional, and by function of the University. It was found that all levels of education have a positive return not only for the individual, but also for the State Treasury. This is in excess of any non-pecuniary benefits to the State of having a better educated population, or the local taxation effects on the county or city where the campus is located. These returns are found to be higher than other types of investments.

Two Essays in Finance

Two Essays in Finance PDF Author: Ward R. Kangas
Publisher: Universal-Publishers
ISBN: 1581120044
Category : Business & Economics
Languages : en
Pages : 144

Book Description
Based on data on publicly traded insurance firms, the first essay examines questions about the effect of large catastrophic events on insurance firms. Rather than looking at a single event, thirty catastrophic events were aggregated into quintiles and the cumulative abnormal returns around these events were found to be significantly positive over a 25 day trading window. There is no significant evidence that post-catastrophic stock returns are correlated to the magnitude of the catastrophe. The second essay analyzes the effect of a large land grant university, the University of Illinois, on the State Treasury of Illinois. If the State Treasury were acting as its own agent trying to maximize revenues, would it choose higher education as an investment versus other alternative investments. While it is true the State makes large expenditures for the operations of the University, it is also true that individuals receiving degrees on average receive higher incomes. Taxes or higher incomes offset the cost of operating the University. The study is broken out by the level of student: undergraduate, masters, doctorate, medical professional, and by function of the University. It was found that all levels of education have a positive return not only for the individual, but also for the State Treasury. This is in excess of any non-pecuniary benefits to the State of having a better educated population, or the local taxation effects on the county or city where the campus is located. These returns are found to be higher than other types of investments.

Money, Capital, & Fluctuations

Money, Capital, & Fluctuations PDF Author: F.A. Hayek
Publisher: University of Chicago Press
ISBN: 0226321274
Category : Business & Economics
Languages : en
Pages : 209

Book Description
PREFACE AND ACKNOWLEDGMENTS EDITOR'S INTRODUCTION INTRODUCTION 1. THE MONETARY POLICY OF THE UNITED STATES AFTER THE RECOVERY FROM THE 1920 CRISIS (1925) 2. SOME REMARKS ON THE PROBLEM OF IMPUTATION (1926) 3. ON THE PROBLEM OF THE THEORY OF INTEREST (1927) 4. INTERTEMPORAL PRICE EQUILIBRIUM AND MOVEMENTS IN THE VALUE OF MONEY (1928) 5. THE FATE OF THE GOLD STANDARD (1932) 6. CAPITAL CONSUMPTION (1932) 7. ON 'NEUTRAL MONEY' (1933) 8. TECHNICAL PROGRESS AND EXCESS CAPACITY (1936) Two reviews MARGINAL UTILITY AND ECONOMIC CALCULATION (1925) THE EXCHANGE VALUE OF MONEY (1929) NAME INDEX

Two Essays in Financial and Monetary Economics

Two Essays in Financial and Monetary Economics PDF Author: Sherman J. Ho
Publisher:
ISBN:
Category : Demand for money
Languages : en
Pages : 296

Book Description


Macroeconomics, Finance and Money

Macroeconomics, Finance and Money PDF Author: Giuseppe Fontana
Publisher: Springer
ISBN: 0230285589
Category : Business & Economics
Languages : en
Pages : 363

Book Description
This volume focuses on current issues of debate in the area of modern macroeconomics and money, written from (a broadly interpreted) post Keynesian perspective. The papers connect with Philip Arestis' contributions to macroeconomics and money, and pay tribute to his distinguished career.

Two Essays on Modeling Financial Markets as Complex and Interactive Systems

Two Essays on Modeling Financial Markets as Complex and Interactive Systems PDF Author: Yoonjung Lee
Publisher:
ISBN:
Category :
Languages : en
Pages : 192

Book Description


Why the World Economy Needs a Financial Crash and Other Critical Essays on Finance and Financial Economics

Why the World Economy Needs a Financial Crash and Other Critical Essays on Finance and Financial Economics PDF Author: Jan Toporowski
Publisher: Anthem Press
ISBN: 0857286560
Category : Business & Economics
Languages : en
Pages : 158

Book Description
The essays in this volume explain the key structural features of financial inflation that give rise to financial crisis. These features include excessive reliance on finance to maintain economic activity through rising asset prices. Reliance on asset inflation induces a preoccupation with property values and a new social divide between the asset-rich and the asset-poor that undermines the culture of the welfare state. When debt can no longer be supported by cash flow from asset markets, excess debt plunges economies into economic depression.

The Theory of Money and Financial Institutions

The Theory of Money and Financial Institutions PDF Author: Martin Shubik
Publisher: MIT Press
ISBN: 9780262693110
Category : Business & Economics
Languages : en
Pages : 472

Book Description
This first volume in a three-volume exposition of Shubik's vision of "mathematical institutional economics" explores a one-period approach to economic exchange with money, debt, and bankruptcy. This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form. The approach involves a search for minimal financial institutions that appear as a logical, technological, and institutional necessity, as part of the "rules of the game." Money and financial institutions are assumed to be the basic elements of the network that transmits the sociopolitical imperatives to the economy. Volume 1 deals with a one-period approach to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new economic features that arise when we consider multi-period finite and infinite horizon economies. Volume 3 will consider the specific role of financial institutions and government, and formulate the economic financial control problem linking micro- and macroeconomics.

The Spectator

The Spectator PDF Author:
Publisher:
ISBN:
Category : English literature
Languages : en
Pages : 1352

Book Description
A weekly review of politics, literature, theology, and art.

Keynesianism Vs. Monetarism, and Other Essays in Financial History

Keynesianism Vs. Monetarism, and Other Essays in Financial History PDF Author: Charles P. Kindleberger
Publisher: Taylor & Francis
ISBN: 9780415382120
Category : Chicago school of economics
Languages : en
Pages : 348

Book Description
First Published in 2005. Routledge is an imprint of Taylor & Francis, an informa company.

Wiley CMA Learning System Exam Review 2013, Financial Planning, Performance and Control, Online Intensive Review + Test Bank

Wiley CMA Learning System Exam Review 2013, Financial Planning, Performance and Control, Online Intensive Review + Test Bank PDF Author: IMA
Publisher: John Wiley & Sons
ISBN: 1118582950
Category : Study Aids
Languages : en
Pages : 564

Book Description
This bundled product suite includes the Wiley CMA Learning System Part 1: Financial Planning, Performance and Control which covers the topics of Planning, Budgeting, and Forecasting, Performance Management, Cost Management, Internal Controls, and Professional Ethics. In addition, it includes Part 1 of the self-study online intensive review as well as access to the test bank with over 900 questions.