Social and Behavioral Sciences Commons^™

Three Essays On The Housing Market And Financial Intermediaries, Majid Haghani Rizi

Theses and Dissertations

My dissertation utilizes the valuable information present in forward looking financial intermediaries and effects of the housing market on macroeconomy. In the second chapter, I study the dynamic relationship in the shadow banking system. Particularly, I investigate theshort-runandthelong-runrelationshipamongthefinancialassetsofthemoneymarket funds, the commercial paper, and the repurchase agreement markets by undertaking a cointegration analysis of quarterly data over the 1985-2013 period. The evidence suggests that there exists a common long-term cointegrating trend among these three components of the shadow banking system. Any disequilibrium in this long-run relationship among these variables is corrected by movement in the financial assets of the money market …