Neoclassical analysis of the labor market and its institutions. A systematic development of the theory of labor supply …, labor demand, and human capital. Topics discussed also include wage and employment determination, turnover, search …

In recent years a substantial amount of literature in one way or another deals with liquidity. The interest in it grows … measures of liquidity and publish them in the regular reports. But as in literature, there is still no consensus as what … liquidity really means and how it should be measured, or reported, understood or predicted, as the consistent summary of what …

mantienen si extendemos el modelo para incorporar riesgo agregado o impago estratégico ; We characterize the optimal debt-maturity … management problem of a government in a small open economy. The government issues a continuum of finite-maturity bonds in the … presence of liquidity frictions. We find that the solution can be decentralized: the optimal issuance of a bond of a given …

(leverage) and the term of the debt contract (debt maturity). However, little is known about the theoretical interdependence … between leverage and debt maturity. Furthermore, leverage and debt maturity are treated independently in most empirical … between leverage and debt maturity in both the Australia and the US capital markets. Our theoretical model, which builds upon …

theory and the tax advantage hypothesis. The design of the study takes account three lacunae in our current understanding of …

the case where only standard financial contracts are available. The theory explains why bankruptcy law should, in some … besseren Firmen die Eigner und die Gläubiger gemeinsam über das Fortbestehen der Firma entscheiden sollten. Die Theorie kann …

the one for men. This is consistent with a marriage model where the search horizon for women is shorter than the one for …

pricing literature. In the first essay, I investigate whether foreign institutional investors affect stock liquidity in … higher liquidity. However, it is difficult to interpret the causal relation of this finding because institutional investors … experiment suggests a causal link between foreign institutional investors and liquidity. Consistent with the predictions of …

Despite the extensive work on currency mismatches, research on the determinants and effects of maturity mismatches is … scarce. In this paper I show that emerging market maturity mismatches are negatively affected by capital inflows and price … volatilities. Furthermore, I find that banks with low maturity mismatches are more profitable during crisis periods but less …