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dc.contributor.advisorStein, Jeremy C.
dc.contributor.advisorLerner, Josh
dc.contributor.advisorScharfstein, David S.
dc.contributor.advisorSunderam, Adi
dc.contributor.advisorDi Maggio, Marco
dc.contributor.authorPassalacqua, Andrea
dc.date.accessioned2020-10-16T15:02:03Z
dc.date.created2020-05
dc.date.issued2020-05-14
dc.date.submitted2020
dc.identifier.citationPassalacqua, Andrea. 2020. Essays in Banking and Corporate Finance. Doctoral dissertation, Harvard University, Graduate School of Arts & Sciences.
dc.identifier.urihttps://nrs.harvard.edu/URN-3:HUL.INSTREPOS:37366010*
dc.description.abstractThis dissertation studies the role of different types of frictions in preventing optimal resource allocation in the economy. In chapter 1, I focus on financial frictions and consider the distorted incentives of banks to lend to zombie firms. I show that bank supervision, in the form of on-site unexpected inspections, can reduce the misallocation of resources in the credit market with positive spillovers for the local economy. In chapter 2, I study the role of political frictions in explaining the divergence of the income-GDP ratio from the optimal level suggested by the optimal taxation literature. I review the literature on the topic and suggest that among other factors, political budget cycles play an important role. In chapter 3, I combine the two topics from before, by considering the role of political frictions in the context of zombie lending and show that electoral cycles can explain the persistence of this lending behavior by financial intermediaries.
dc.description.sponsorshipPolitical Economy and Government
dc.format.mimetypeapplication/pdf
dc.language.isoen
dash.licenseLAA
dc.subjectBank supervision
dc.subjectZombie lending
dc.subjectElectoral cycle
dc.titleEssays in Banking and Corporate Finance
dc.typeThesis or Dissertation
dash.depositing.authorPassalacqua, Andrea
dc.date.available2020-10-16T15:02:03Z
thesis.degree.date2020
thesis.degree.grantorGraduate School of Arts & Sciences
thesis.degree.grantorGraduate School of Arts & Sciences
thesis.degree.levelDoctoral
thesis.degree.levelDoctoral
thesis.degree.nameDoctor of Philosophy
thesis.degree.nameDoctor of Philosophy
dc.contributor.committeeMemberDobbie, Will S.
dc.type.materialtext
thesis.degree.departmentPolitical Economy and Government
thesis.degree.departmentPolitical Economy and Government
dash.identifier.vireo
dash.author.emailandrea.passalacqua04@gmail.com


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