東華大學圖書館 |

Language: English

Help

回圖書館首頁

手機版館藏查詢

Back

Switch To: Labeled | MARC Mode | ISBD

Essays on International Finance and ...

Lee, Hyunju.

Linked to FindBook

Google Book

Amazon

博客來

Essays on International Finance and Financial Crises.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays on International Finance and Financial Crises./
Author:	Lee, Hyunju.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2018,
Description:	153 p.
Notes:	Source: Dissertation Abstracts International, Volume: 80-03(E), Section: A.
Contained By:	Dissertation Abstracts International80-03A(E).
Subject:	Economics. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10933353
ISBN:	9780438565944

Essays on International Finance and Financial Crises.
Lee, Hyunju.

Essays on International Finance and Financial Crises. - Ann Arbor : ProQuest Dissertations & Theses, 2018 - 153 p.

Source: Dissertation Abstracts International, Volume: 80-03(E), Section: A.

Thesis (Ph.D.)--University of Minnesota, 2018.

This dissertation consists of three chapters about international finance, focusing on financial crises. First and second chapters study international capital flows, motivated by the Great Recession. In the last chapter, I turn to European debt crisis and study on fiscal policy in response to sudden spikes of sovereign bond yields.

ISBN: 9780438565944Subjects--Topical Terms:

517137
Economics.

Essays on International Finance and Financial Crises.
LDR:02867nmm a2200325 4500 001 2201350
005 20190429062347.5
008 201008s2018 ||||||||||||||||| ||eng d
020 $a 9780438565944
035 $a (MiAaPQ)AAI10933353
035 $a (MiAaPQ)umn:19628
035 $a AAI10933353
040 $a MiAaPQ $c MiAaPQ
100 1 $a Lee, Hyunju. $3 1678726
245 1 0 $a Essays on International Finance and Financial Crises.
260 1 $a Ann Arbor : $b ProQuest Dissertations & Theses, $c 2018
300 $a 153 p.
500 $a Source: Dissertation Abstracts International, Volume: 80-03(E), Section: A.
500 $a Advisers: Manuel Amador; Timothy J. Kehoe.
502 $a Thesis (Ph.D.)--University of Minnesota, 2018.
520 $a This dissertation consists of three chapters about international finance, focusing on financial crises. First and second chapters study international capital flows, motivated by the Great Recession. In the last chapter, I turn to European debt crisis and study on fiscal policy in response to sudden spikes of sovereign bond yields.
520 $a More specifically, gross capital flows, which arise from the changes in international investment positions, experienced a sudden collapse during the Great Recession in the United States and other advanced countries. The first two chapters build an open economy model of portfolio choice with two bonds and two non-tradable sectors. Equilibrium portfolios are long in domestic bonds and short in foreign bonds because the endogenous movements of real exchange rate make this portfolio a good hedge against non-tradable consumption risk. With a calibrated model, I find that the observed fluctuations in gross flows mitigated 4% of consumption drop during the Great Recession in the United States.
520 $a In the last chapter, I ask how the fiscal policy should be adjusted when the volatility of government bond yield is time varying. I first quantify the stochastic volatility of real government bond yields for Germany, Italy, Spain and Portugal. Then, I propose a small open economy model with stochastic volatility of real interest rates in order to examine the optimal fiscal policy. I find that under high volatility, consumption tax will result in the highest revenue but at the cost of biggest welfare loss compared to the benchmark low volatility. Capital and labor income taxes show similar results but to the lesser amount. Calibrating to Portuguese data, I show that 1 percentage point increase in consumption tax will yield 1.5% less total government revenue and 1.6% more welfare loss in present value terms under the high volatility than the low volatility.
590 $a School code: 0130.
650 4 $a Economics. $3 517137
650 4 $a Finance. $3 542899
690 $a 0501
690 $a 0508
710 2 $a University of Minnesota. $b Economics. $3 1022416
773 0 $t Dissertation Abstracts International $g 80-03A(E).
790 $a 0130
791 $a Ph.D.
792 $a 2018
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10933353