Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 3 of 3
Full-Text Articles in Business
Which Financial Measures Can Be Leveraged To Help Close The Unfunded Liability Gap For State Pension Plans?, Selette M. Jemison
Which Financial Measures Can Be Leveraged To Help Close The Unfunded Liability Gap For State Pension Plans?, Selette M. Jemison
Doctoral Dissertations (DBA)
The main purpose of this study is to identify the key determinants of the unfunded liability (UL) for state and local public Defined Benefit (DB) pension plans. The UL is a measure of pension debt in plans across the U.S. This debt continues to rise while pension obligations to current and future retirees must also be satisfied. The UL is derived by subtracting the market value of plan assets from its accrued liabilities. If assets are less than liabilities, it signals a lack of funds set aside to cover all pension benefits and generates what is known as an unfunded …
The Convenience Yield Determinants Of Corn Futures, Christopher R. Delong
The Convenience Yield Determinants Of Corn Futures, Christopher R. Delong
Doctoral Dissertations (DBA)
This paper presents an in-depth analysis of the convenience yield determinants of corn futures. The estimated spot price and convenience yield are derived from Gibson and Schwartz’s (1990) two-factor model, and a deterministic seasonal component is added to the convenience yield. Numerous potentially novel determinants are regressed against the convenience yield while controlling for the spot price. The spot price is highly significant in all univariate regressions and is the main driver of changes in convenience yield. This research confirms the theory of storage, provides conflicting results regarding net hedging pressure, shows significant results for novel determinants, and proves that …
Capital Allocation Imbalance And The Effects On Monetary Policy, Peter G. George
Capital Allocation Imbalance And The Effects On Monetary Policy, Peter G. George
Doctoral Dissertations (DBA)
This paper examines the association between liquidity injections and capital allocations in the United States. In the analysis, liquidity injections are proxied by monetary base and the capital allocations are reflected by excess reserves, vault cash, total bank credit, and M2-M1. Monthly data are utilized for all variables for the sample period March 1984 – June 2020. Four Bai-Perron multiple breakpoint regressions and Markov switching estimations are employed to examine changeable patterns and interactions. The results indicate that liquidity injections are imbalanced and are allocated to total bank credit prior to quantitative easing, excess reserves prior to QE through post-QE, …