Price‐level versus inflation targeting with financial market imperfections

Essays on Financial Market Imperfections

This dissertation consists of three chapters on financial market imperfections, in particular, information imperfections. Chapter 1 studies how the existence of a fixed cost per transaction faced by uninformed investors hampers information revelation through price and exacerbates adverse selection. The exacerbated adverse selection explains one long-standing puzzle in finance the momentum anoma...

Financial Market Imperfections and Business Cycles

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Inflation and Financial Market Performance

Labor Market Imperfections , Real Wage Rigidities and Financial Shocks

By using the recent Gertler and Kiyotaki’s (2010) setup, this paper explores the interaction between real distortions stemming from the labor market institutions and …nancial shocks. We …nd that neither labor market imperfections nor …scal institutions determining tax wedges have an impact on the volatility of the real economy induced by a …nancial shock. By contrast, real wage rigidities matte...

Essays on Financial Market Imperfections and the Environment

Title of Document: ESSAYS ON FINANCIAL MARKET IMPERFECTIONS AND THE ENVIRONMENT Dana Charles Andersen, PhD, 2014 Directed By: Ramón E. López, Professor Agricultural and Resource Economics The first chapter explores the effect of credit constraints on production-generated pollution emissions. I develop a theoretical model wherein polluting firms borrow externally to finance investment in various...