This paper addresses a comparative analysis of financial management effectiveness, which evaluates financial performance in the Indonesia’s construction state-owned enterprises (SOEs). State companies were established to make a significant contribution to the growth of national economy and...

This paper reviews the main development of approaches to modelling urban public transit users’ route choice behaviour from 1960s to the present. The approaches reviewed include the early heuristic studies on finding the least cost transit route and all-or-nothing transit assignment, the bus...

This thesis is targeting on proposing a new variable selection method and showing its applications in financial markets. Statistically, this thesis constructs a new adaptive variable selection criterion, proves its same asymptotic rate with mini-max estimator, and shows its effectiveness in...

This dissertation consists of two essays concerning search-theoretic monetary economics. The issues studied here are about search and matching, which requires models with an explicit microfoundation. The meaningful economic intuitions and policy implications we get justify the necessity of this...

Department: School of Business.

he purpose of this paper is to discuss some of the models used in New Monetarist Economics, which is our label for a body of recent work on money, banking, payments systems, asset markets, and related topics. A key principle in New Monetarism is that solid microfoundations are critical for...

This essay articulates the principles and practices of New Monetarism, our label for a recent body of work on money, banking, payments, and asset markets. We first discuss methodological issues distinguishing our approach from others: it has something in common with Old Monetarism, but there are...

We introduce lotteries (randomized trading) into search-theoretic models of money. In a model with indivisible goods and fiat money, we show goods trade with probability 1 and money trades with probability τ, where τ1 iff buyers have sufficient bargaining power. With divisible goods, a...