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 15 of 15 for “"Liquidity shocks"”.
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Liquidity Shocks and the Demand for Pawn Loans
… 2008, this paper studies the effect of positive liquidity shocks on pawn loan utilization. We uncover a statistically significant 67% decrease in pawn loan utilization in the week following receipt of ESP checks. However, in the year following receipt of the ESP via check or direct deposit, a …
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Pre-planting liquidity shocks and farm performance: Evidence from Illinois grain farms
Submission original under an indefinite embargo labeled 'Open Access'. The submission was exported from vireo on 2025-10-19 without embargo terms
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Price and liquidity discovery, jumps and co-jumps using high frequency data from the foreign exchange markets
… are twofolds. First, we move from price to liquidity discovery and explicitly study the dynamic behavior of a direct measure of liquidity observed from the foreign exchange markets. We extend the framework presented by Hasbrouck (1991) and Dufour and Engle (2000) by allowing the coefficients …
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Stock price fragility in an emerging market
… of concentrated stock ownership and correlated liquidity shocks on price volatility. Here, the measure is applied to the South African financial market. Subject to data complications, it is nevertheless shown that stock price fragility is a significant predictor of total return volatility owing …
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On Bank Bailouts
… in each other to hedge against idiosyn- cratic liquidity shocks. When a fraction of banks in the economy are hit by a liquidity shock and become insolvent, there are potential spillovers to solvent banks. In this case, the optimal bailout policy is not always either a full bailout or zero …
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ESSAYS ON THE REAL EFFECTS OF FINANCIAL FRICTIONS
This dissertation explores how different shocks 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 …
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Three Essays on Exchange-Traded Funds
… I find that when APs are inventory-neutral, liquidity shocks to the ETF do not transmit to the underlying assets. These results are largely unchanged in a high-volatility subsample, although there is some concern for thinly traded ETFs. In a daily panel, I show that APs' inventories are …
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Essays in financial economics
… 1, we seek to understand the relation between liquidity and market imperfections from two dimensions: 1) Across liquidity measures, we compare the influence of imperfections on two commonly used measures, Kyle's lambda and price reversal; 2) Across imperfections, we study the interaction …
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A study of stock market liquidity from 1973 to 2015
In this thesis we analyze US stock market liquidity in the period of 1973 to 2015 from three perspectives: price impact, turnover ratio, and trading frequency. We use the Center for Research in Security Prices (CRSP) and Trade and Quotes (TAQ) databases to acquire stock data across different time …
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Essays in Asset Management: Mutual Funds and Exchange-traded Funds
… counterparty risk, while they are shielded from liquidity shocks. There is a remarkable drop in tracking performance sensitivity to market distress post the global financial crisis.
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Essays in macroeconomics : information and financial markets
… is driven primarily by technology and preference shocks-but can be detrimental when shocks to markups and wedges cause sufficient volatility in "output gaps". Finally, chapter 3 studies how market signals-such as stock prices-can help alleviate the severity of the asymmetric information problem in …
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Three Essays in Financial Economics
… The thesis investigates topics related to market liquidity and integration. In particular, it covers the transmission of liquidity shocks across Eurozone markets, the role of market liquidity in the repurchase programme and integration of Eurozone economies in terms of welfare gains from trade. …
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Essays on entrepreneurship and management
… on Entrepreneurship In this chapter, I exploit a liquidity shock from a large-scale welfare program in Brazil to investigate the importance of credit constraints and informal financial assistance in explaining entrepreneurship. Previous research focuses exclusively on how liquidity shocks change …
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Three essays on debt pricing
… The model also implies that when bonds market liquidity dries up, the firm should buy back more bonds, as the shortage of liquidity is independent of the firm's fundamental but depresses the market price of bonds. The paper also provides empirical evidences for the implications. Chapter 3: How …
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Essays on the Equity Pricing and Capital Structure of Financial Intermediaries
… institutions face unexpected credit and liquidity shocks in the financial markets. The thesis shows that banking organizations show little pecking order behaviour in capital structure. Banks are different in terms of leverage relative to non-banks, as taxpayers deposit subsidized debt …