[PDF] Top 20 Essays on international finance and monetary economics

... The New Keynesian model as presented here is subject to the same caveats high- lighted in sections 2.3.4 and 2.3.6: determinacy relies on a terminal condition and policy specifications disregard the zero lower bound ... See full document

... This thesis studies the role of global risk within the context of international finance. In total, the thesis is composed of three essays. In Chapter 2, I investi- gate the impact of global risk on ... See full document

... three essays on international finance, focusing on international capital flows, foreign exchange market and official foreign exchange ...drives international portfolio flows? This is an ... See full document

... PPP mainly due to two factors: the prominence of the monetary approach and the end of Bretton Woods. However, by the late ‘80s, the excess volatility of the nominal exchange rate and poor empirical performance had ... See full document

... Figure 6 summarizes the determinacy periods computed using the esti- mated policy parameters, under the baseline parameterization of the model. My estimates suggest that the likelihood of determinacy was below 50% from ... See full document

... of international capital flows and equity ...for international funds that is consistent with this ...that international mutual funds’ portfolio reallocations have a significant price ... See full document

... We find that i currencies with higher interest rates outperform currencies with lower interest rates by about 7% per annum, consistent with estimates from modern samples, while a momentu[r] ... See full document

... A number of previous studies have already documented how nominal and real ex- change rate dynamics may have changed over time. Moreover, these studies have shown how allowing for nonlinearities may shed light, and ... See full document

... equity finance or from a shifting the in the risk-frontier associated with ...equity finance is the more dominant driver of the observed trend: From the first time period to the next, the per-unit cost of ... See full document

... In this paper, we develop and solve an incomplete-markets general equilibrium model of international portfolio choice. We calibrate our model so that it is consistent with the behavior of the relative goods’ ... See full document

... independent monetary policy; I use this framework to evaluate what reduction in transaction frictions a monetary union should guarantee in order to offset this ...of monetary unification: (i) the ... See full document

... ECB monetary policy announcements and broader statements regarding economic outlook using daily data over sample periods that begin in 1997 for the BoE, and 1999 for both the Federal Reserve and ECB; all sample ... See full document

... in finance. The momentum in finance, by definition, means that stocks that have performed well in the past tend to perform well in the future while stocks that performed poorly in the past are likely to ... See full document

... The French Government has designed several incentives for each municipality to develop a comparable stock of social dwellings. A law adopted in 2000 imposes a minimum share of 20% of social housing units among the ... See full document

... ble source for Italian banks, while short-term wholesale funding was affected by a widespread flight-to-quality from peripheral to core countries. Long-term unsecured wholesale funding became increasingly harder to ... See full document

... I would like to thank my advisors, Dimitri Vayanos and Georgy Chabakauri for all the invaluable guidance and support I received. Their comments and suggestions improved this thesis a lot. Their personal example helped me ... See full document

... In recent macro-finance papers, like Brunnermeier and Sannikov (2014) and He and Krishnamurthy (2012), the driving force is a constraint on raising equity for ex- perts. Experts have to hold (at least) a ... See full document

... Secondly, I utilise sticky wages. Olivei & Tenreyro (2007, 2010) find indirect evidence for wage stickiness by exploiting known timing conventions for wage setting. Countries, such as the US and Japan, in which wages ... See full document

... The London School of Economics and Political Science Essays in Empirical Finance Christian von Drathen A thesis submitted to the Department of Finance of the London School of Economics for the degree[.] ... See full document

... The London School of Economics and Political Science Essays in Financial Economics Vincent Fardeau A thesis submitted to the Department of Finance of the London School of Economics for the degree of D[.] ... See full document