Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 20 of 47 for “"Financial frictions"”.
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Essays on Macroeconomics with Financial Frictions
… to identify economic mechanisms through which financial frictions affect the aggregate economy over the business cycle and along the path of economic development. There are three chapters in this dissertation. In each chapter, a theoretical model is constructed based on motivating empirical …
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Financial frictions and exports dynamics in large devaluations
We study the role of nancial frictions and balance-sheet e ects in accounting for the dy- namics of aggregate exports in large devaluations. In standard models of international trade, exports increase immediately following a large devaluation; in contrast, aggregate exports re- spond sluggishly in …
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ESSAYS ON THE REAL EFFECTS OF FINANCIAL FRICTIONS
… affect real economic outcomes in the presence of financial frictions. The first essay shows that a decline in trade costs facilitated by railroads in the 19th century US increased wealth inequality. Using the universe of household-level wealth holdings data from 1850 to 1870, this essay shows that …
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Essays on financial frictions, misallocation and development dynamics
This dissertation consists of three chapters on financial friction, misallocation and development dynamics. The first chapter considers how financial frictions and mobility distortions generate the persistence of post-reform development dynamics. I build a general equilibrium model and calibrate it …
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Essays on the macroeconomic implications of financial frictions
… chapters on the macroeconomic implications of financial frictions. The first chapter investigates the implications of student loan debt on labor market outcomes. I begin by analytically demonstrating that individuals under debt tend to search less and end up with lower-paid jobs. I then develop …
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Three Essays On Monetary Policy In Economies With Financial Frictions
… this dissertation is to understand the role of financial frictions in the transmission of shocks and their effect on the monetary policy transmission mechanism. To accomplish the task, we develop Dynamic Stochastic General equilibrium models with financial frictions. In the first chapter, we …
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Essays in intangible capital reallocation, mergers and acquisitions and financial frictions
… to the recent macroeconomics literature on financial frictions at a theoretical and a quantitative level. This literature attempts to quantify the magnitude of output fluctuations attributable to financial market disturbances through frictions on the reallocation of capital among firms. At …
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Essays on financial frictions with an application to the Chinese economy
… related to macroeconomic implications of financial frictions, along with an application of macro-finance models to the Chinese economy. The first two chapters focus on government guarantees on business loans to state-owned enterprises (SOEs), a typical practice of the Chinese government. …
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Essays on the Macroeconomic Effects of Imperfect Banking Competition and Other Financial Frictions
In this thesis, I study the effects of financial frictions and in particular, imperfect banking competition, on different macroeconomic aspects. The thesis consists of a short introductory chapter and three papers. The first paper investigates the impact of imperfect banking competition on …
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Structural changes and financial frictions in the monetary transmission mechanism : GMM, VAR and Bayesian DSGE approaches
… if monetary policy rule should be different in a financial crisis and recession regimes. Second, it investigates the MTM and the dynamics of the channels before and after the GFC. Third, it explores the role of credit supply shocks and addresses if the issue of credit supply shocks has a plausible …
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Essays in Mutual Fund Performance, the Home Equity Bias and the Effects of Financial Frictions on Output and Occupational Choice
… and theoretically explore the effects of such financial frictions as poor contract enforcement and intermediation costs on occupational choice and output.
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Bankruptcy and Transaction Costs in General Financial Models
General financial models have become workhorse models in the fields of macroeconomics and finance. These models have been developed and extensively studied by general equilibrium theorists. What makes them so applicable for macroeconomics and finance is the well accepted fact that models with a …
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Essays on the Monetary Policy Transmission Mechanism
My thesis studies the effect of financial frictions on the monetary policy transmission mechanism in four chapters. The first chapter, Credit Constraints in a New Keynesian Framework: A Simple Theoretical Analysis, studies how financial frictions alter equilibrium outcomes. I show that collateral …
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Essays on financial markets, inequality and economic development
… effects of wealth inequality on economies where financial markets are imperfect. I exploit the idea that inequality should have a different effect across sectors. Using a difference-in-difference strategy, I show that sectors that are more in need of external finance are relatively smaller in …
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Fiscal Policy, Default and Emerging Market Business Cycles
… tradable asset for the sovereign government and financial frictions on private sector. I use this model to identify the contribution of market incompleteness due to the commitment problem of the sovereign. The findings point that the endogenous state-contingent borrowing constraints that …
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Essays on monetary policy
… Stochastic General Equilibrium (DSGE) model with financial frictions.
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Essays in modern Macroeconomics
… tests the presence of state-dependent pricing frictions by analysing the effects of monetary policy during high inflation and after large monetary shocks. The second chapter focuses on the interaction of heterogeneity in firm potential with financial frictions and its effect on macroeconomic …
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Three essays in economic development and growth
… insights into the causal effect of relaxing financial frictions on firms productivity. The second chapter concerns rationalizing Brazil's uneven development path over the postwar period through the lens of a Neoclassical growth model and its transitional dynamics. In the third chapter, a …
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Sources of Fluctuations in Emerging Markets: DSGE Estimation with Mixed Frequency Data
… I estimate a small open economy model featuring financial frictions for twelve emerging countries under the baseline mixed frequency estimation. I find that transitory technology shocks are the main driver of fluctuations in emerging markets, accounting for 48% of output growth variance on …
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Monetary policy in low income countries: the case of Uganda
… These include the role of inflation persistence, financial frictions and the potential impact of regime-changes or large shocks. The analysis is applied to data for the Ugandan economy. Chapter 3 extends the quantile regression approach to investigate inflation persistence in LICs. The results …
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