This dissertation consists of three essays examining and analyzing Michigan property assessment practices. The first essay estimates the property assessment expenditure function for Michigan local government (townships and cities) using panel data with 1,310 governmental units f…
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La historia del capitalismo moderno ha visto la transformación del pensamiento macroeconómico entrelazada entre el vaivén del comportamiento cíclico que le caracteriza. Las crisis establecen la necesidad de revisar las ideas prevalecientes y la crisis financiera de 2008 no fue l…
Over the thirty years preceding 2008, the United States has experienced increasing income inequality while transitioning to a consumption-led economy. This dissertation investigates the foundations of the 2008 recession and offers an explanation for the slow growth recovery. Thr…
More than ten years after the financial crisis of 2008, which sparked America’s Great Recession, many citizens are still asking why no high-level bank executives were prosecuted for criminal fraud. This question becomes even more perplexing when they remember that many powerful …
Understanding the ways in which organizations fail is foundational to the organization studies discipline. Organizational sociologists have outlined the various ways organizations and organizational cultures can fail separately or simultaneously, temporarily or totally. Yet, lit…
This dissertation is composed of three standalone chapters on social economics, a field of inquiry that examines the multifaceted relationships between social and economic phenomena. The first two chapters are motivated by the 2007-2008 global financial crisis. By employing a cr…
This thesis investigates different aspects of the impact of extreme downside risk on stock returns. We first investigate the impact at market level, where the return of the stock market index is expected to be positively correlated to its tail risk. More specifically, we incorpo…
Corporate investment decisions are among the most important decisions of a firm. Internal capital markets play a key role in facilitating the allocation of capital resources in order to finance investment projects within diversified firms. This thesis investigates internal capit…
There has been much hype in vocational and academic circles surrounding the emergence of web 2.0 or social media; however, relatively little work was dedicated to substantiating the actual concept of web 2.0. Many have dismissed it as not deserving of this new title, since the t…
This dissertation addresses specific questions regarding IMF programs in Asia during the Asian financial crisis. Chapter I is an overview of the crisis and the role of the IMF. The next three research chapters look at the impact of IMF programs in Asia. Chapter 2 looks at the im…
In late 2008, economies worldwide underwent close to complete economic paralysis in what has now been established as the worst financial crisis since the Great Depression. In response, economic research focused on understanding how a well-developed financial market such as the U…
The phenomenal financial expansion of the last decades has been characterised by an exacerbation of systemic instability and an increase in the frequency of financial crises, culminating in the recent meltdown in the US financial sector. The literature on financial crises has de…
The first essay examines why firms with access to lines of credit (LOC) have different drawdowns and their implications for asset pricing, investment and profitability. Utilizing a hand-collected LOC dataset that extends the sample of Sufi (2009) to 2010, our principal finding i…
This dissertation presents three essays. The first analyzes the determinants of the fiscal costs and output loss for a broad sample of countries experiencing a banking crisis. It explores three hypotheses: crisis countries with a greater supply of financial professionals, all el…
Scope and method of study. The objectives of this study were (1) to describe the world palm oil and palm kernel oil industry from 1997 to 1999 and the condition of palm oil and palm kernel oil industry in Indonesia and Malaysia during, and after the 1997–1998 Asian financial cri…
This study is an empirical investigation of the transmission of monetary policy in a small open economy with fixed exchange rates. A tow-country structural macroeconomic model has been developed to describe the small economy that explicitly incorporates an interest rate differen…
During the Asian financial crisis in the late 1990's, national survey data indicated that income distribution among Indonesian households became increasingly more egalitarian. However, it was unclear whether the distribution of income became more equal because of the crisis, or …
This study investigates whether implicit government guarantees to the banking system contributed to the 1997 Southeast Asian financial crisis. In particular, I examine the banking systems in Indonesia, Malaysia, Singapore, South Korea, and Thailand. The presence of implicit depo…
This study has analysed the causes of the 1997/98 financial crisis of Thailand by examining the links between the inflow/outflow of foreign capital and the behaviour of private agents (consumers and producers) in that country during the period from 1975 to 1998. Thailand, once k…