This paper presents the main results of the Spanish Survey of Household Finances 2022, which reflect the financial situation of Spanish households as at end-2022. These results are of particular interest, since they allow the income, assets, debt and spending of Spanish households to be analysed...

Opportunity for group study by graduate students on current topics related to management not otherwise included in curriculum. From the course home page: Course Description This is a course on how corporations make use of the insights and tools of risk management. Most courses on derivatives,...

This study investigates the importance of reduced capital misallocation in explaining the gains in corporate spinoffs. The capital misallocation hypothesis asserts that the internal capital market of a diversified firm fails to meet the needs of the relatively low growth divisions for less...

This paper analyses the economic effects of different magnitudes of tariff cuts, different tariff cutting formulas, the implications of tariff capping as well as different numbers and width of tariff bands in the market access pillar of the Doha Round agricultural negotiations. The simulations...

In this paper, the welfare results in trade liberalisation scenarios in global CGE models (like GTAP)are analysed. The default modeling strategy in trade is the Armington assumption with bilateral tradeflows in industries. The negative terms of trade effects that often dominate the negative...

The paper investigates the economic impacts of selected policies included in the Master Plan for Forestry Development, a 25-year plan (1991-2015) formulated in order to propagate forest resources in the Philippines. A computable general equilibrium (CGE) inodel based on ORANI, a multi-sectoral...

This paper proposes a low cost alternative to the large bailout packages that the International Monetary Fund (IMF) has organized to address financial crises. The IMF would act as a lender of last resort. Faced with an unsustainable debt burden, a government would declare default. It would...

ENGLISH ABSTRACT: To date, there has been significant research completed on the topic of corporate financial distress. Two pioneering researchers in the field of predicting financial distress was Beaver in 1966 and Altman in 1968. More recent research, based on companies listed on the JSE has...

This dissertation presents two essays on Markov-Switching dynamic stochastic general equilibrium models. The first essay is "Perturbation Methods for Markov-Switching Models," which is co-authored with Juan Rubio-Ramirez, Dan Waggoner, and Tao Zha. This essay develops an perturbation-based...

Extreme asset price movements appear to be more pronounced recently and havemajor consequences for an economy’s financial stability and monetary policies.This paper investigates the extreme behaviour of equity market returns andquantifies the probabilities of these losses. Taking fourteen...