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Essays in Financial Intermediation and Credit Risk
This dissertation focuses on issues in financial intermediation and sovereign credit risk. With the enactment of the Gramm-Leach-Bliley Act (GLBA) in 1999, the long-standing barriers between commercial and investment banking activities were formally removed. In chapter 1, I show that the increased competition, drastic reduction ...
Essays on Financial Economics
The thesis studies the topics of financial stability and their implication for financial economics. An exogenous shock to the financial system is critical because it can further result in an economic downturn. One of the reasons is that the financial system acts as a hub connecting all financial activities in the economy. In ...
Essays on International Finance and Currency Economics
My dissertation consists of three chapters which address questions in international finance and currency economics. Chapter 1 studies the persistence of covered interest rate parity (CIP) deviations. Since global financial crisis (GFC), the CIP deviations have implied a persistent dollar financing premium for banks versus ...
Essays on Industrial Organization of Banking and Finance
I explore the market structure of the Indian banking industry and its implications for designing policies. My main chapter (Chapter 2) analyses how multi-market contact between banks (measured as overlap between banks across different marketplaces) affects the market structure. I find evidence of an oligopolistic market, with ...