Essays on debt markets

This thesis consists of three chapters on debt markets. In chapter 1, I consider the interaction between domestic banking and growth in a DSGE model of sovereign default in order to address (i) the joint existence of sovereign debt and international reserves, and (ii) the occurrence of twin (domestic banking and sovereign default) crises. In chapter 2, joint with Hui Chen and Jun Yang, we build a structural model to explain corporate debt maturity dynamics over the business cycle and their implications for the term structure of credit spreads. In chapter 3, joint with Juan Passadore, we study debt policy of emerging economies accounting for credit and liquidity risk.

Department dc:contributor.department

Sloan School of Management

Grantor dc:publisher

Massachusetts Institute of Technology

Year dc:date.issued

2015

Authors dc:creator

• Xu, Yu
• Chen, Hui
• Yang, Jun
• Passadore, Juan

Advisor dc:contributor.advisor

• Hui Chen.

• Sloan School of Management.

Statement dc:rights

• M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.

Licence dc:rights.uri

• http://dspace.mit.edu/handle/1721.1/7582

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/1721.1/98612

OAI identifier oai:identifier

oai:dspace.mit.edu:1721.1/98612