The economic repercussions of September 11th are unique in that never before have economists needed to forecast and examine the impact of an event of such magnitude. This paper explains many of the economic effects of September l Ith, from the initial aftermath to recent developments. These...

Firm-level fixed investment expenses are analysed using a large panel of US manufacturing firms from 1971 to 2007. Integrating the user cost of capital, q and accelerator theories of investment to one econometric specification, we estimate the impacts of sales growth, cash flow, the cost of...

Superior information exchanged over the course of lending relationships generates bank-client specificities to the extent that such information cannot be communicated credibly to outsiders. Consequently, banks obtain higher profits from more captured borrowers than from borrowers with financing...

Pakistan undertook major financial sector reforms starting in the late 1980s. The effects of these reforms on the profitability and cost and revenue efficiency of the banking sector are evaluated. The revenue performance of all banks, and especially the privatized banks, improved significantly,...

The paper analyses the impact of the labour costs and import costs on the prices of final goods in the USA during the 1950s-1990s period. The elasticity of the final prices with respect to the import and labour price indexes is a main determinant in the go through channel affecting the prices of...

This paper examines the selection of data source and econometric technique for studies of banking efficiency using translog cost functions. We examine the use of Seemingly Unrelated Regression estimation for a cost function, as against estimation using Ordinary Least Squares. Choice of cost data...

This thesis examines the pricing of volatility on organized U.S. options exchanges from October 31, 2005 through November 1, 2007. The research is motivated in part by the rapid growth of hedge funds that trade volatility and in part by the growing importance that the financial markets place on...

This dissertation consists of four essays on pricing fixed income derivatives and risk management. The first essay presents pricing and duration formulas for floating rate bonds and interest rate swaps with embedded options. It combines Briys et al.'s approximation with the extended Vasicek term...