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Essays on the economic analysis of risk.

Thompson, Mark Andrew.

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Essays on the economic analysis of risk.

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Essays on the economic analysis of risk./
作者:	Thompson, Mark Andrew.
面頁冊數:	96 p.
附註:	Source: Dissertation Abstracts International, Volume: 64-03, Section: A, page: 1006.
Contained By:	Dissertation Abstracts International64-03A.
標題:	Economics, General. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoeng/servlet/advanced?query=3083387

Essays on the economic analysis of risk.
Thompson, Mark Andrew.

Essays on the economic analysis of risk. - 96 p.

Source: Dissertation Abstracts International, Volume: 64-03, Section: A, page: 1006.

Thesis (Ph.D.)--Texas Tech University, 2003.

An important challenge to risk management is to understand the role that shocks play on measures of economic activity. Here, such unexpected disturbances or shocks are defined as “news”. This dissertation focuses on how economic news affects financial and labor markets in three essays. The topic of the first essay is the impact of news on health care sector return volatility. This essay examines the return behavior of equity market indices based on portfolios of publicly-traded companies in three health care sectors: health care service providers (<italic>provider</italic>), producers of drugs and supplies (<italic>product</italic>), and third-party payors (<italic> payor</italic>). The differences in the equity market indices are consistent with sector attributes such as degree of price and cost pressures, search behavior of customers, physical capital requirements, and alternative market opportunities. The second essay deals with how information and shocks are transmitted through the health care industry. A schematic flow of funds model is used to identify the linkages and cross-effects within the health care industry. This flow of funds model provides the framework to derive testable predictions of equity performance. Empirical support for the flow of funds model is provided. Finally, the third essay examines how labor market conditions respond to a catastrophic event such as a severe windstorm. An econometric model that allows for time-varying variance in the employment growth is used to examine the effect of the May 3, 1999 Oklahoma City tornado. The key result is no significant long-term decline in employment growth could be attributed to the tornado. In addition, employment growth volatility was either unchanged or lower.Subjects--Topical Terms:

1017424
Economics, General.

Essays on the economic analysis of risk.
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500 $a Source: Dissertation Abstracts International, Volume: 64-03, Section: A, page: 1006.
500 $a Chairperson: Jamie L. Kruse.
502 $a Thesis (Ph.D.)--Texas Tech University, 2003.
520 $a An important challenge to risk management is to understand the role that shocks play on measures of economic activity. Here, such unexpected disturbances or shocks are defined as “news”. This dissertation focuses on how economic news affects financial and labor markets in three essays. The topic of the first essay is the impact of news on health care sector return volatility. This essay examines the return behavior of equity market indices based on portfolios of publicly-traded companies in three health care sectors: health care service providers (<italic>provider</italic>), producers of drugs and supplies (<italic>product</italic>), and third-party payors (<italic> payor</italic>). The differences in the equity market indices are consistent with sector attributes such as degree of price and cost pressures, search behavior of customers, physical capital requirements, and alternative market opportunities. The second essay deals with how information and shocks are transmitted through the health care industry. A schematic flow of funds model is used to identify the linkages and cross-effects within the health care industry. This flow of funds model provides the framework to derive testable predictions of equity performance. Empirical support for the flow of funds model is provided. Finally, the third essay examines how labor market conditions respond to a catastrophic event such as a severe windstorm. An econometric model that allows for time-varying variance in the employment growth is used to examine the effect of the May 3, 1999 Oklahoma City tornado. The key result is no significant long-term decline in employment growth could be attributed to the tornado. In addition, employment growth volatility was either unchanged or lower.
520 $a Each essay incorporates time series econometric techniques to analyze the dynamic response to economic news and events on financial and labor markets. Individual and institutional investors must recognize and comprehend the impact that news (i.e., shocks) has on asset return volatility and understand how shocks are transmitted from one sector to another. In addition, local policymakers could use this information to understand how the local labor market responds to a catastrophic wind storm and how they might formulate future policy to mitigate the effects of a tornado.
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650 4 $a Economics, Labor. $3 1019135
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792 $a 2003
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoeng/servlet/advanced?query=3083387