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Essays on auto loan asset-backed securities: Moral hazard along the securitization chain, and the cross section of expected returns
(Georgetown University, 2016)
Securitization is the practice of pooling the cashflows of a large number of financial assets and structuring them so as to create a much smaller number of tradable securities. The widespread adoption of securitization as ...
The Role of Financial Intermediaries in Macroeconomics
(Georgetown University, 2012)
Since its inception, the Modigliani-Miller capital structure irrelevancy principle has limited researchers' interest in the role of financial intermediaries in macroeconomics. However, due to the spread of financial crises ...
International Portfolios in the New Open Economy Macroeconomics Model
(Georgetown University, 2009)
This thesis employs recently developed numerical approximation methods to study international portfolio diversification in the dynamic stochastic general equilibrium New Open Economy Macroeconomics (NOEM) model. The ...
EMPIRICAL EVIDENCE OF KNIGHTIAN UNCERTAINTY IN EQUITY MARKETS
(Georgetown University, 2015)
Market microstructure theory builds on the assumption that the arrival of new information induces trading, because it alters market participants’ expectations of the true price. The bid-ask spread, which represents ...
SLAVES TO THE WAGE?: THE EFFECT OF RISING HOUSEHOLD INDEBTEDNESS ON LABOR PROTECTIONS
(Georgetown University, 2016)
The global economy has seen substantial changes since the era of market liberalization in the 1980’s that have formed the basis of the so-called Washington Consensus. An important result of more market-oriented policies ...
Essays in Macroeconomics
(Georgetown University, 2010)
What are the welfare costs of price rigidities when labor mobility is restricted? What are the effects of pecuniary externality in high-leveraged economies? Should Central Banks react to changes in asset prices? How did ...
Impact of Foreign Investor Participation on Emerging Market Local Currency Government Bond Yields
(Georgetown University, 2018)
Along with the development of local currency (LCY) government bond markets in emerging markets (EM) foreign investors’ participation in these markets have increased. Higher foreign investor participation has resulted in ...
Essays about Credit, Executive Compensation and Real Estate Market
(Georgetown University, 2018)
This dissertation comprises three chapters related to the risk-taking decisions of the firms and the households. The first two chapters study the risk-taking from the perspectives of the investment risk of the CEOs and its ...
The Price of Remittances: Do High Transaction Costs Depress Transfers?
(Georgetown University, 2019)
The costs of sending international remittances are high, and the international community has committed to the reduction of remittance prices via targets set by the United Nation’s Sustainable Development Goals (SDGs) and ...
Analyzing the Relationship between the Federal Funds Rate and Startup Financing Structures during the 2008-2009 Financial Crisis and Great Recession
(Georgetown University, 2021)
This paper analyzes the relationship between the federal funds rate set by the Federal Reserve and the debt financing structure of startup firms. By looking at this hypothesis through the lens of monetary policy transmission ...