Money, Bargaining, And Risk Sharing,
2011
Singapore Management University
Money, Bargaining, And Risk Sharing, Nicolas L. Jacquet, Serene Tan
Research Collection School Of Economics
We investigate the dual role of money as a self-insurance device and a means of payment when perfect risk sharing is not possible, and when the two roles of money are disentangled. We use a variant of Lagos–Wright (2005) where agents face a risk in the centralized market (CM): in the decentralized market (DM) money’s main role is as a means of payment, while in the CM it is as a self-insurance device. We show that state-contingent inflation rates can improve agents’ ability to self-insure in the CM, thereby improving the terms of trade in the DM. We then characterize …
Research On The Impact Of Container Freight Derivatives On Shipping,
2011
World Maritime University
Research On The Impact Of Container Freight Derivatives On Shipping, Zhenle Shen
World Maritime University Dissertations
No abstract provided.
An Investigation Of Shipping Derivatives Based On Risk Evaluation,
2011
World Maritime University
An Investigation Of Shipping Derivatives Based On Risk Evaluation, Sheng Yang
World Maritime University Dissertations
No abstract provided.
Research On Capacity Development Plan Of Wenzhou Shipping Company,
2011
World Maritime University
Research On Capacity Development Plan Of Wenzhou Shipping Company, Xinlei Chen
World Maritime University Dissertations
No abstract provided.
Study On Ship Investment Risk : Uo Company As An Example,
2011
World Maritime University
Study On Ship Investment Risk : Uo Company As An Example, Yichen Chen
World Maritime University Dissertations
No abstract provided.
Process Optimization In Freight Forwarding Industry,
2011
World Maritime University
Process Optimization In Freight Forwarding Industry, Xiaohua Shi
World Maritime University Dissertations
No abstract provided.
Liner Shipping Lane Planning From Shanghai Port To Guangzhou Port Of Shanghai Baoyin Shipping Co., Ltd,
2011
World Maritime University
Liner Shipping Lane Planning From Shanghai Port To Guangzhou Port Of Shanghai Baoyin Shipping Co., Ltd, Zhujun Zhou
World Maritime University Dissertations
No abstract provided.
Marketing Model Of Freight Forwarding Basing On Information Technology,
2011
World Maritime University
Marketing Model Of Freight Forwarding Basing On Information Technology, Yang Li
World Maritime University Dissertations
No abstract provided.
The Application Of Portfolio Theory In Shipping Assets And Business For Shipping Company,
2011
World Maritime University
The Application Of Portfolio Theory In Shipping Assets And Business For Shipping Company, Ying Zheng
World Maritime University Dissertations
No abstract provided.
Three Essays On Opacity, Corporate Governance, And Credit Ratings,
2011
University of Arkansas, Fayetteville
Three Essays On Opacity, Corporate Governance, And Credit Ratings, Yiwen Gu
Graduate Theses and Dissertations
In the first essay, utilizing a more recent and expanded 20-year sample 1991-2010 of dual-rated bonds issued, I confirm Morgan's (2002) finding that banks are relatively more opaque than nonbanks. The likelihood of a rating split is higher, and the magnitude of the rating gap is larger, for banks than nonnbanks. Moreover, rating agency disagreements are more significant for banks with relatively higher loan and trading securities holdings and maintain lower capital, and for banks engaged in mortgage securitization. Importantly, I find that rating agency disagreements reflect market proxies of information uncertainty. Further, opacity makes external financing more costly. Equity …
An Impact Evaluation Of U.S. Arms Export Controls On The U.S. Defense Industrial Base An Interrupted Time-Series Analysis,
2011
University of Central Florida
An Impact Evaluation Of U.S. Arms Export Controls On The U.S. Defense Industrial Base An Interrupted Time-Series Analysis, Aaron Condron
HIM 1990-2015
The United States Defense Industrial Base (USDIB) is an essential industry to both the economic prosperity of the US and its strategic control over many advanced military systems and technologies. The USDIB, which encompasses the industries of aerospace and defense, is a volatile industry - prone to many internal and external factors that cause demand to ebb and flow widely year over year. Among the factors that influence the volume of systems the USDIB delivers to its international customers are the arms export controls of the US. These controls impose a divergence from the historical US foreign policy of furthering …
Anatomy Of A Financial Center's Global Competitiveness In The Context Of Michael Porter's Model Of National Competitive Advantage A Theoretical Analysis,
2011
University of Central Florida
Anatomy Of A Financial Center's Global Competitiveness In The Context Of Michael Porter's Model Of National Competitive Advantage A Theoretical Analysis, Josef Joachim L. Magpantay
HIM 1990-2015
Throughout history, a number of financial centers have risen and fallen. While the significance of some centers have deteriorated, a small number of centers have emerged as today's leading financial centers by meeting a specific set of necessary conditions needed to successfully address the growing financial needs of the regions they are located. Furthermore, an even smaller number of financial centers have been able to sustain and expand their initial dominance in the financial industry by continuously satisfying a more focused set of conditions and factors. This thesis focuses on adapting Michael Porter's Diamond Model in determining, clustering, and expanding …
Impact Of Agricultural Profitability, Productivity And Interest Rate On Farmland Value For Selected U.S. And Slovak States,
2011
University of Arkansas, Fayetteville
Impact Of Agricultural Profitability, Productivity And Interest Rate On Farmland Value For Selected U.S. And Slovak States, Maria Majerhoferova
Graduate Theses and Dissertations
This thesis examines agricultural factors which may have impact on agricultural land values. Based on theory, three primary factors are considered to have an impact on land value: agricultural productivity, agricultural profitability and interest rate. The study is of two countries: the US, where data are from 16 states and Slovakia with 6 states. The ten-year period from 2000 until 2009 is used in the analysis. A capitalization model is used to estimate the relationship between agricultural productivity, profitability and interest rate and land value. Three types of agricultural land are used: cropland and its value in relationship with crops, …
Grey Market For Indian Ipos: Investor Sentiment And After-Market Performance,
2011
Singapore Management University
Grey Market For Indian Ipos: Investor Sentiment And After-Market Performance, Chandrasekhar Krishnamurti, Tiong Yang Thong, Vishwanath Ramanna
Research Collection Lee Kong Chian School Of Business
Extant research on developed markets shows that investor sentiment is a prominent feature in IPO grey markets. There is sparse work in the context of emerging markets. We fill this lacuna by studying the working of the Indian IPO market. We consider this work interesting and relevant for the following reasons. First, grey market trading always involves short-selling as securities are not yet available. Since legal and institutional environment is less developed in emerging markets, the functioning of grey markets is of interest to policy makers and financial economists. Second, retail investors participate to a greater extent in IPOs of …
Testing For Multiple Bubbles,
2011
Singapore Management University
Testing For Multiple Bubbles, Peter C. B. Phillips, Shu-Ping Shi, Jun Yu
Research Collection School Of Economics
Identifying explosive bubbles that are characterized by periodically collapsing behavior over time has been a major concern in the literature and is of great importance for practitioners. The complexity of the nonlinear structure in multiple bubble phenomena diminishes the discriminatory power of existing tests, as evidenced in early simulations conducted by Evans (1991). Multiple collapsing bubble episodes within the same sample period make bubble diagnosis particularly difficult and complicate attempts at econometric dating. The present paper systematically investigates these issues and develops new procedures for practical implementation and surveillance strategies by central banks. We show how the testing procedure and …
Specification Sensitivities In Right-Tailed Unit Root Testing,
2011
Australian National University
Specification Sensitivities In Right-Tailed Unit Root Testing, Shu-Ping Shi, Peter C. B. Phillips, Jun Yu
Research Collection School Of Economics
Right-tailed unit root tests have proved promising for detecting exuberance in economic and financial activities. Like left-tailed tests, the limit theory and test performance are sensitive to the null hypothesis and the model specification used in parameter estimation. This paper aims to provide some empirical guidelines for the practical implementation of right-tailed unit root tests, focusing on the sup ADF test of Phillips, Wu and Yu (2011), which implements a right-tailed ADF test repeatedly on a sequence of forward sample recursions. We analyze and compare the limit theory of the sup ADF test under different hypotheses and model specifications. The …
Marketing Margins Of Strawberries 2006-2010 Shipping Point-Terminal-Retail Price,
2011
University of Arkansas, Fayetteville
Marketing Margins Of Strawberries 2006-2010 Shipping Point-Terminal-Retail Price, Matej Mikle Barat
Graduate Theses and Dissertations
This thesis examines vertical price relationships for fresh strawberries. Specifically, the focus is on three stages of the vertical chain. The first stage is the shipping point. Shipping points represent major strawberry production regions and are the closest price point to the farm. The second stage is the terminal market. Terminal markets are wholesale markets in major US cities. The third stage is the retail level. Retail level prices are measured as average supermarket prices in the same cities for which terminal market prices are available. Using weekly data, markup equations are estimated from upstream to downstream levels of the …
Maximising Benefits,
2011
Institute of Business Administration, Karachi, Pakistan
Maximising Benefits, Ishrat Husain Dr.
Faculty Research - Newspaper and Magazine Articles
The recent moves to devolve some of the functions and responsibilities of the federal government to the provinces through the 18th Amendment and the decision of the National Finance Commission (NFC) to allocate a larger portion of divisible tax pool to the provinces are highly commendable. These steps have the potential to overcome some of the structural difficulties and micro-economic distortions that have been keeping Pakistan as an underachiever economically and socially. In a multi-ethnic and multi-linguistic society, with one of the federating units being much advanced and enjoying political dominance, de-concentration of powers and equitable sharing of resources among …
Mexico Consensus Economic Forecast, Volume 14, Number 3,
2011
University of Texas at El Paso
Mexico Consensus Economic Forecast, Volume 14, Number 3, Thomas M. Fullerton Jr., Adam G. Walke
Departmental Papers (E & F)
No abstract provided.
From Boom To Doom To Boom: Offshore Financial Centres And Development In Small States,
2011
Technological University Dublin
From Boom To Doom To Boom: Offshore Financial Centres And Development In Small States, Richard Woodward
Articles
During the 1990s tax havens and offshore financial centres (OFCs) were subject to a string of initiatives designed to raise their tax and regulatory regimes to accepted international standards. Many commentators forecast that this would lead to the demise of OFCs, a worry for the many small states whose economic well being depended heavily on the provision of offshore financial services. Despite this regulatory onslaught many small state OFCs have prospered in the new millennium. This paper seeks to explain this apparent paradox by arguing that (1) international initiatives were riddled with loopholes and exceptions that have been gleefully seized …
