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Fiscal federalism and intergovernmental fiscal revenue sharing in Mexico: The municipal perspective

Alatorre, Samuel - 2002

This dissertation reviews the functioning of the intergovernmental fiscal revenue sharing system in Mexico. The gradual centralization of fiscal authority by the federal government since the 1980s has led to a revenue dependency of sub-national governments on the center that is extreme. State...

Persistent link: https://www.econbiz.de/10009438915

Essays on asset pricing and financial econometrics

Kang, Qiang - 2002

The dissertation is focused on studying the behavior of aggregate asset market and its relationship to real economic activity. Chapter 1 offers a new empirical perspective on the relationship between the conditional mean and volatility of stock returns. Chapter 2 builds a general equilibrium...

Persistent link: https://www.econbiz.de/10009438918

Essays in Financial Econometrics

Hua, Jian - 2010

In the first chapter, I estimate dynamic factors from the term structure of credit spreads and the term structure of equity option implied volatilities, and I provide a comprehensive characterization of the dynamic relationships among those credit spread factors and equity volatility factors. I...

Persistent link: https://www.econbiz.de/10009438954

Essays on International Finance and Risk Sharing

Liu, Edith X - 2010

The potential for economic agents to minimize risk through diversification is central to the study of finance. This …

Persistent link: https://www.econbiz.de/10009438956

Managing catastrophic risk by alternative risk transfer instruments

Ou Yang, Chieh - 2010

Chapter 1 analyzes hybrid-trigger CAT bonds, a new CAT bond deal that can reduce basis risk and eliminate moral hazard simultaneously. It is the first research that provides analytical evidence on the condition under which the hybrid trigger has lower basis risk. Simulation results support my...

Persistent link: https://www.econbiz.de/10009438957

Essays in sovereign credit risk

Plank, Thomas J - 2010

This dissertation investigates aspects of sovereign credit risk in advanced and emerging economies. It consists of two chapters. Chapter 1 studies the determinants of sovereign credit default swap (CDS) spreads for 16 advanced economies during the recent financial crisis. We document that the...

Persistent link: https://www.econbiz.de/10009438959

Essays on optimal investment allocation and consumption over the life-cycle

Chen, Ying - 2010

This dissertation examines how households should optimally allocate their portfolio choices between risky stocks and risk-free bonds over their lifetime. Traditional lifecycle models in previous work with normal-distributed stock returns suggest that the allocation toward stocks should start...

Persistent link: https://www.econbiz.de/10009439012

Cross-market relations in United States financial markets

Underwood, Shane Ernest - 2004

In this dissertation I examine the relation between financial markets for several different types of securities. The first chapter discusses the relevant literature concerning the relation between the stock and Treasury bond markets, as well as the relation between the repurchase agreement...

Persistent link: https://www.econbiz.de/10009439026

Essays on corporate finance

Chen, Zhaohui - 2004

This dissertation has three chapters. Each chapter focus on separate issues in corporate finance. The first chapter … value to some of the firms they finance, while angels are not able to add significant value. Second, the entrepreneur has …

Persistent link: https://www.econbiz.de/10009439027

Bankruptcy and Transaction Costs in General Financial Models

Hoelle, Matthew - 2010

General financial models have become workhorse models in the fields of macroeconomics and finance. These models have … and finance is the well accepted fact that models with a representative agent and without financial frictions yield … fields of macroeconomics and finance in the future depends upon the frontier research in general equilibrium today. Over the …

Persistent link: https://www.econbiz.de/10009439043