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Full-Text Articles in Economic Theory

A Piece Of The Puzzle: Can Behavioral Insights Help Understand Currency Returns?, Samuel D. Russell Apr 2014

A Piece Of The Puzzle: Can Behavioral Insights Help Understand Currency Returns?, Samuel D. Russell

Senior Theses and Projects

This paper finds further evidence using a Cointegrated Vector Autoregression to support claims against the Uncovered Interest Rate Parity (UIP) ex post, referred to as the Forward Discount Anomaly (Fama, 1984). This anomaly suggests predictable profits simply from investing in a country with a higher interest rate. Potential explanations could be attributed to risk or deviations from the rational expectations hypothesis. UIP ex ante is tested using survey data. These results indicate a time-­‐ varying risk premium. Further it is found that this premium is related to the gap between the exchange rate and Purchasing-­‐Power-­‐Parity value. Additionally it is determined …


An Empirical Analysis On Excessive Reserves In U.S Banking System And Its Application, Lianjiang Lu Apr 2013

An Empirical Analysis On Excessive Reserves In U.S Banking System And Its Application, Lianjiang Lu

Senior Theses and Projects

This paper examines factors that account for excessive reserves held by U.S banks and potential consequences of this phenomenon. This paper shall firstly establish economic rationales to address the current abnormity and then use empirical data to reinforce its argument.

As an empirical analysis, this paper firstly seeks evidence in macroeconomics and adopts time series models using U.S data. This mainly involves regressions to identify determinants of excessive reserves. Furthermore, this paper examines microeconomic factors in order to model for individual banks and unveil their motivations of holding reserves. This mainly involves panel analysis on different U.S commercial banks.

Based …


Standard Oil: Cost Reductions And Predatory Pricing, Francisco Bedoya Apr 2013

Standard Oil: Cost Reductions And Predatory Pricing, Francisco Bedoya

Senior Theses and Projects

Standard Oil was founded by John D. Rockefeller and later dismantled by the US Supreme Court in 1911 for attempting to monopolize the market of the refined-oil kerosene. The objective of this thesis is to determine if the Supreme Court’s accusations relating to predatory pricing were based on facts; or did the government make groundless denunciations due to pressure from society at the time.

My objective revolves a historical case study that can be understood with economic theory. I intend to use empirical information from historical data about the growth of the company to determine whether the accusation of employing …