This paper investigates how changes in fiscal policy can affect relative prices, optimal savings and steady state utility in a two-country, overlapping generations model of endogenous growth. We develop a simple model that combines Blanchard-type consumers with uncertain lifetimes, with an...

Consumer credit risk assessment involves the use of risk assessment tools to manage a borrower’s account from the time of pre-screening a potential application through to the management of the account during its life and possible write-off. The riskiness of lending to a credit applicant is...

This article examines how microstructure effects, evident in high frequency data, influence bid–ask spreads and volatility in transaction price series. It uses the event of European Monetary Union (EMU), and the upheaval that this entailed, as an opportunity to empirically investigate these...

This thesis consists of three essays related to balance of payment or the externalsector issues. These three essays include an analysis of a country’s current accountand fiscal sustainability position, the role of external debt in economic growth, andthe reserves and debt management.The main...

Researchers have developed investigations into both initial and seasoned equity offering (SEO) by obtaining data from developed markets (e.g. Denis, 1994; Kothari and Warner, 1997; Corwin, 2003; Eckbo et al., 2006), while the literature in emerging markets is relatively neglected. This thesis provides an...