Essays in Macroeconomics and Corporate Finance

Essays in Corporate Finance

This dissertation studies the effects of informational asymmetries on corporate finance. Two distinct settings are considered, one empirical and one theoretical. In the first chapter, I show that strong creditor rights facilitate the financing of innovation, using a novel dataset of patent collateral portfolios. Using the random timing of court decisions as a source of exogenous variation in cr...

Essays in Dynamic Corporate Finance

ESSAYS IN DYNAMIC CORPORATE FINANCE Michael Michaux

Essays on Corporate Finance Issues

Essays on Banking and Corporate Finance in Developing Countries

This dissertation consists of three essays that examine banking and corporate finance in developing countries. Specifically, it explores the theoretical and empirical implications of open capital markets, foreign bank entry, and the role of bond markets during banking crises. Chapter 1 analyzes the impact of opening capital markets using a theoretical model that incorporates both foreign and do...

Essays in Macroeconomics

This dissertation consists of three essays which investigate the economic implications of monetary and fiscal policies on the macroeconomy. The first essay focuses on the following question: how can we explain the observed behavior of aggregate inflation in response to e.g. monetary policy changes? Mankiw and Reis (2002) have proposed sticky information as an alternative to Calvo sticky prices ...