The aim of this thesis is to thoroughly study structural default models based on jump-diffusion processes. Jump-diffusion models were first proposed by Zhou (2001), who also showed that these models have several desirable properties, most important, positive short-term spreads. On the other...

Existe una versión en español con el mismo número ; This paper applies the methodology developed by Forte and Peña (2006) to extract the implied default point in the premium on credit default swaps (CDS). As well as considering a more expensive international sample of corporations (96 US,...

The objective of our research is to investigate retailer market conduct in the sale of beverage milk using a structural model of consumer behavior and retailer optimality conditions that embrace a range of competitive scenarios. The study is based on an aggregate level analysis of retailer...

In Chapter 2, "Accounting for Cross-Country Differences in Intergenerational Earnings Persistence: The Impact of Taxation and Public Education Expenditure," I study the determinants of cross-country differences in intergenerational earnings persistence between fathers and sons. Western economies...

This study represents the first application of Choice Experiments to the analysis of the monetary and non-pecuniary determinants of vocational choice and spatial labor supply. It identifies the determinants of individual’s choice of jobs and place of residence, and provides a better...

Health, like schooling, is a form of human capital and can be expected to be positively related to labor productivity and labor supply. The production of good health and labor productivity, however, sometimes competes with an individual's lifestyle, e.g., binge drinking. In this study, an...

This paper explores the interaction between the federal Earned Income Tax Credit (EITC) and the cost-of-living faced by single mothers. After the 1993 EITC expansion, we identify up to a 10 percentage point increase in labor force participation for single mothers in the lowest cost areas but no...

Recently, several authors have argued for the use for the use of dynamic preference structures for leisure which incorporate forms of intertemporally nonseparable utility in the analysis of intertemporal labor supply decisions. In this paper, we examine whether such nonseparable utility...

Asian development in the 1970's is likely to take place under conditions quite different from those typical of the past two decades. These changing conditions will have an important influence on the research focus relating to growth and development. This paper ex- amines two such changes. First,...

A framework for simplified implementation of the collective model of labor supply decisions is presented in the context of fiscal reforms in the UK. Through its collective form the model accounts for the well known problem of distribution between wallet and purse, a broadly debated issue which...