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Three essays on property and liability insurance company investment
Published 2018“…Using the U.S. property and casualty insurance companies as the research setting, we find that the deterioration of the financial health of bond investors raises the liquidity spread of municipal bonds, and this relationship was even stronger during the subprime mortgage crisis. Using Hurricane Sandy as an exogenous shock to the financial health of insurers, we find that the municipal bonds held by insurers suffered loss by the hurricane experience larger increase in liquidity yields in the current and following quarter of Hurricane Sandy. …”
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Causal Nexus between Stock Price, Demand for Money, Interest Rate, Foreign Institutional Investment, and Exchange Rates in India: A Post Subprime Crisis Analysis
Published 2014-08-01“…This paper makes an attempt to empirically examine the causal nexus between stock price, demand for money, interest rates, foreign institutional investment and exchange rates in India in the post subprime mortgage crisis period. The study employed Granger causality test, Vector Auto Regression and Johansen Maximum Likelihood procedure to examine the short run and long run dynamic interaction among the above mentioned variables for the period January 1993 to May 2009. …”
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Risk and returns in real estate development projects at the black swan test [Rendimento e rischio d’investimento immobiliare alla prova del cigno nero]
Published 2023-02-01“…The real estate market is affected by great uncertainty due to the nexus of various factors: a) the specificity of the assets traded, which are illiquid, unique and very hetherogeneous from each other; b) the ‘structural disequilibrium’ of the market caused by the differences emerging in elasticity of supply with respect to demand; c) the non-competitiveness of the market, which often turns into a bilateral monopoly; d) the great variability of market prices. Since the subprime mortgage crisis that broke out at the end of 2006 in the United States, it has clearly emerged that, in a sector that represents about a third of world wealth, it is necessary, on the one hand, to implement proper and increasingly sophisticated valuation tools, to support the design of effective risk management strategies and, on the other hand, to improve the reliability of real estate data, in order to allow for a more robust verification of the hypotheses on the trend of the cash flows generated by the investment and a more accurate valuation of the investment risk and, consequently, of the project expected rate of return. …”
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Understanding the U.S. Economy for Racial Healing
Published 2023-01-01“…McGhee gives the example of the predatory subprime mortgage crisis that caused the Great Recession. She states, ?…”
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