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Essays in Macro-Finance
Essays in Macro-Finance
상세정보
- 자료유형
- 학위논문 서양
- 최종처리일시
- 20260202103100
- ISBN
- 9798314850237
- DDC
- 658
- 저자명
- Modi, Kosha.
- 서명/저자
- Essays in Macro-Finance
- 발행사항
- [Sl] : Columbia University, 2025
- 발행사항
- Ann Arbor : ProQuest Dissertations & Theses, 2025
- 형태사항
- 152 p
- 주기사항
- Source: Dissertations Abstracts International, Volume: 86-11, Section: A.
- 주기사항
- Advisor: La'O, Jennifer;Scheinkman, Jose.
- 학위논문주기
- Thesis (Ph.D.)--Columbia University, 2025.
- 초록/해제
- 요약This dissertation focuses on three broad questions at the intersection of macroeconomics and finance which are (a) What are the sources of inflation? (b) What are the causes and implications of banks' information technology investments? (c) How do loan covenants transmit monetary shocks to firm investment? Chapter 1 (joint with Emilio Zaratiegui) answers the first question by using high-frequency asset price movements around CPI announcement in the US to extract market-perceived sources of inflation. Chapter 2 (joint with Nicola Pierri, Yannick Timmer and Maria Martinez Peria Soledad) constructs a novel measure of banks' IT investment and studies its drivers and implications on monetary policy and mortgage markets. Chapter 3 merges covenant-level data from Dealscan with firm-level data from Compustat to study whether covenants interact with monetary policy to have heterogeneous effects on firm investment. For the first question, I find that supply shocks played an increasingly important role since the pandemic. For the second question, I find that fintech competition had a causal impact on banks' IT investments and resulting in potentially more market power for high IT banks, and higher financial inclusion for lower-income borrowers. For the third question, I find that a firm that is farther away from violating its interest coverage covenant invests more with an expansionary monetary shock.
- 일반주제명
- Finance
- 키워드
- Inflation
- 키워드
- Loan covenants
- 키워드
- Sources
- 키워드
- Monetary policy
- 기타저자
- Columbia University Economics
- 기본자료저록
- Dissertations Abstracts International. 86-11A.
- 전자적 위치 및 접속
- 로그인 후 원문을 볼 수 있습니다.
MARC
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■00520260202103100
■006m o d
■007cr#unu||||||||
■020 ▼a9798314850237
■035 ▼a(MiAaPQ)AAI31933958
■040 ▼aMiAaPQ▼cMiAaPQ
■0820 ▼a658
■1001 ▼aModi, Kosha.
■24510▼aEssays in Macro-Finance
■260 ▼a[Sl]▼bColumbia University▼c2025
■260 1▼aAnn Arbor▼bProQuest Dissertations & Theses▼c2025
■300 ▼a152 p
■500 ▼aSource: Dissertations Abstracts International, Volume: 86-11, Section: A.
■500 ▼aAdvisor: La'O, Jennifer;Scheinkman, Jose.
■5021 ▼aThesis (Ph.D.)--Columbia University, 2025.
■520 ▼aThis dissertation focuses on three broad questions at the intersection of macroeconomics and finance which are (a) What are the sources of inflation? (b) What are the causes and implications of banks' information technology investments? (c) How do loan covenants transmit monetary shocks to firm investment? Chapter 1 (joint with Emilio Zaratiegui) answers the first question by using high-frequency asset price movements around CPI announcement in the US to extract market-perceived sources of inflation. Chapter 2 (joint with Nicola Pierri, Yannick Timmer and Maria Martinez Peria Soledad) constructs a novel measure of banks' IT investment and studies its drivers and implications on monetary policy and mortgage markets. Chapter 3 merges covenant-level data from Dealscan with firm-level data from Compustat to study whether covenants interact with monetary policy to have heterogeneous effects on firm investment. For the first question, I find that supply shocks played an increasingly important role since the pandemic. For the second question, I find that fintech competition had a causal impact on banks' IT investments and resulting in potentially more market power for high IT banks, and higher financial inclusion for lower-income borrowers. For the third question, I find that a firm that is farther away from violating its interest coverage covenant invests more with an expansionary monetary shock.
■590 ▼aSchool code: 0054.
■650 4▼aFinance
■653 ▼aHigh-frequency changes
■653 ▼aInflation
■653 ▼aLoan covenants
■653 ▼aSources
■653 ▼aMonetary policy
■690 ▼a0501
■690 ▼a0508
■690 ▼a0511
■71020▼aColumbia University▼bEconomics.
■7730 ▼tDissertations Abstracts International▼g86-11A.
■790 ▼a0054
■791 ▼aPh.D.
■792 ▼a2025
■793 ▼aEnglish
■85640▼uhttp://www.riss.kr/pdu/ddodLink.do?id=T17356912▼nKERIS▼z이 자료의 원문은 한국교육학술정보원에서 제공합니다.
