The three essays involve the spot, forward and option markets for foreign exchange rates respectively. The first essay develops a very general, although partial equilibrium microeconomic model with multiple assets, goods, currencies, and tax rates in stochastic continuous time, and uses it to...

Talent management can broadly be defined as the attraction, integration, development and retention of employees. Historically, many of the components of an organization's talent management strategy and tactics have been allocated in a largely isolated manner to the various specialized human...

We study macroeconomic implications of uninsured idiosyncratic uncertainty with two applications. The first two essays focus on the consumer bankruptcy, and the third essay is an analysis of prices of housing and financial assets. In the first essay, Quantitative Theory of Unsecured Consumer...

This dissertation studies the problem of insurance fraud using a game theoretic model where a policyholder and an insurer play non-cooperatively. The model is based on the traditional costly state verification framework where the policyholder has private information concerning the state of the...

This dissertation consists of three essays concerning financial and monetary economics. Essay 1, "Dynamic General Equilibrium Models", proposes an alternative approach to the study of equilibrium properties of dynamic economies. By exploring the properties of the so-called law of motion, we...

One important decision for a person near retirement pertains to how to begin the decumulation process. One option is to purchase an annuity that will give a stream of income for the length of purchaser's life but transfers the property of the funds to an insurance company. This product protects...

This dissertation consists of three essays. The essay "On the Optimal Allocation of New Security Listings to Specialists" addresses the question of how securities with correlated payoffs should be optimally allocated to dealers in a specialist system. Using an adverse selection model with risk...

Presently, there exists numerous microeconomic models of commercial banks. These numerous models can be classified as one of the following: models that require monopoly power for a solution, models that utilize a portfolio structure, or models that recognize the resources used in producing...