Three Essays in Empirical Asset Pricing

The financial crisis of 2007-2008 led to extraordinary government intervention in firms and markets. The scope and depth of government action rivaled that of the Great Depression. Many traded markets experienced dramatic declines in liquidity leading to the existence of conditions normally assumed to be promptly removed via the actions of profit seeking arbitrageurs. These extreme events motivate the three essays in this work. The first essay seeks and fails to find evidence of investor behavior consistent with the broad 'Too Big To Fail' policies enacted during the crisis by government agents. Only in limited circumstances, where government guarantees such as deposit insurance or U.S. Treasury lending lines already existed, did investors impart a premium to the debt security prices of firms under stress. The second essay introduces the Inflation Indexed Swap Basis (IIS Basis) in examining the large differences between cash and derivative markets based upon future U.S. inflation as measured by the Consumer Price Index (CPI). It reports the consistent positive value of this measure as well as the very large positive values it reached in the fourth quarter of 2008 after Lehman Brothers went bankrupt. It concludes that the IIS Basis continues to exist due to limitations in market liquidity and hedging alternatives. The third essay explores the methodology of performing debt based event studies utilizing credit default swaps (CDS). It provides practical implementation advice to researchers to address limited source data and/or small target firm sample size.

Relatório apresentado a S. Ex. o Sr. Ministro da Industria, Viação e Obras Públicas =Rapport présenté a Son Ex. M. le Ministre de l'Industrie, de la Voirie et des Travaux Publics /por L. Cruls. --Relatório da Comissão Exploradora do Planalto Central do Brazil = Rapport de la Commission d'Exploration du Plateau Central du Brésil

Documento com duas páginas-de-rosto, em português e francês. Título em francês : Rapport présenté a Son Ex. M. le Ministre de l'Industrie, de la Voirie et des Travaux Publics

Relatório apresentado a S. Ex. o Sr. Ministro da Industria, Viação e Obras Públicas = Rapport présenté a Son Ex. M. le Ministre de l'Industrie, de la Voirie et des Travaux Publics por L. Cruls

Trata-se do "Relatório Cruls", referente à 1ª Missão Cruls (1892-1893), durante o governo Floriano Peixoto

Die EU-Förderung der Fisch verarbeitenden Industrie und das EU-Datenerhebungsprogramm

A considerable amount of national EU funds for supporting fisheries has been transferred to the German fish processing in-dustry. The recently ratified European Fisheries Fund (EFF) again provides a significant sum. Yet the EU is lacking a data pool of sufficient precision, which is required as a basis to develop apt EU regulations in the future. Regulation No. 1639/2001 of the EU Commission commits the member states to collect these data. In this paper specifics of the data to be collected and the collection procedure are presented and linked to the CFP and to characteristics of the German fish processing industry.

Einfluß von Anlagen der Offshore-Industrie auf die Fischerei in der Nordsee

From the beginning of the oil and gas exploration in the North Sea the impact of offshore installations, especially pipelines, on the fishery has been thoroughly discussed and investigated. Since fishing activities in the vicinity of pipelines are not prohibited, special precautions have to be taken to prevent towed fishing gear from being fouled by a pipeline. Until now all recommendations for the installation of pipelines are based on the results of tests with trawls crossing one pipeline. New problems will arise if parallel pipelines are installed as planned in the near future.

Die IKB-Krise

Das Arbeitspapier behandelt die Vorgeschichte und den Verlauf der IKB-Krise.

Statistique des grèves et des recours à la conciliation et à l'arbitrage survenus pendant l'année ... / Ministère du commerce, de l'industrie, des postes et des télégraphes, Office du travail

1911.

Statistique des grèves et des recours à la conciliation et à l'arbitrage survenus pendant l'année ... / Ministère du commerce, de l'industrie, des postes et des télégraphes, Office du travail

1890 (FASC3)-1891.

Statistique des grèves et des recours à la conciliation et à l'arbitrage survenus pendant l'année ... / Ministère du commerce, de l'industrie, des postes et des télégraphes, Office du travail

1924.

Statistique des grèves et des recours à la conciliation et à l'arbitrage survenus pendant l'année ... / Ministère du commerce, de l'industrie, des postes et des télégraphes, Office du travail

1926.

Statistique des grèves et des recours à la conciliation et à l'arbitrage survenus pendant l'année ... / Ministère du commerce, de l'industrie, des postes et des télégraphes, Office du travail

1931-1932.