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Everything But Arms (EBA) is a trade policy which enables Least Developed Countries (LDCs) to export all goods, except arms and ammunition, to the European Union without tariffs and quotas. Previous studies conducted on the EBA have indicated mixed results and mainly focused on changes in export volume and diversification. This study contributes by examining whether EBA was associated with a reall
This thesis examines the EU ETS policy in relation to the European steel industry between the years 2013-2024. This is done by looking at the Porter hypothesis, a theory saying that policies such as the EU ETS can have a positive effect on industries’ production. This is investigated using a fixed effects regression model. The steel industry has long been in the center of political discussion, hav
This thesis introduces and evaluates a monthly FOMC–FinBERT Risk Aversion Index (FFRAI), a transformer-based sentiment measure of investor risk aversion derived from Federal Open Market Committee (FOMC) communications. To the author’s knowledge, this is among the first studies to bring together three previously separate strands of the literature: research on time-varying risk aversion, research on
This thesis evaluates the effects of Peru’s 2019 SIS reform, which expanded subsidized public health insurance eligibility from poor households to all uninsured individuals. Using repeated cross-sectional data for the 2017-2025 period, the study leverages discontinuities in the SIS eligibility threshold in the pre-reform years to implement a regression discontinuity event-study to analyze the impa
This study examines whether meaningful AI disclosure in IPO prospectuses is associated with a valuation premium at the time of listing and whether any such premium persists in the aftermarket. Using a sample of 527 US IPOs completed between 2016 and 2026, two OLS specifications with year and industry fixed effects are estimated. The primary variable of interest is a threshold-based dummy variable
This paper studies how the COVID-19 shock affected corporate financial policies under different levels of industry exposure. Using Swedish firm-level data from 2015-2024, it compares high-exposure hotel and restaurant firms with low-exposure information and communication firms in a difference-in-difference framework. To identify the differential post-shock effect, the analysis applies a DiD frame
This thesis studies whether relaxing the maximum loan-to-value (LTV) ratio improves access to owner-occupied housing for first-time buyers. Motivated by the Swedish mortgage-market reform that raises the maximum LTV ratio from 0.85 to 0.90, we develop a finite-horizon quantitative life-cycle model with endogenous consumption, savings, portfolio allocation, homeownership, housing size, moving decis
Fiscal consolidation is commonly used to reduce government debt and can be a useful policy tool during periods of fiscal stress. However, uncertainty on how it affects income inequality and the government's redistributive capacity remains. This essay investigates the dynamic effects of a fiscal consolidation shock on redistribution towards the top 1% and bottom 50% income shares. Cumulative lo
This study investigates the impact of the Regional Greenhouse Gas Initiative (RGGI), which is the initial mandatory cap-and-trade program intended to reduce carbon emissions from the U.S. power sector, on the labor market. The analysis utilizes individual-level data from the Current Population Survey (CPS) and applies difference-in-differences and event-study methodologies to evaluate labor market
This thesis examines the effect of Syrian refugee exposure on the fertility rates of native Danish women, using the large-scale Syrian refugee inflow 2015 and the Danish refugee dispersal policy as the basis for the empirical analysis. Employing a difference-in-difference design, the study investigates both the overall effect on native fertility rates from Syrian refugee inflows, and the mechanism
The overheated real-estate market has long been a central concern of the Chinese government. High housing prices have widened the socioeconomic divide between owner-occupiers and renters and increased the cost of living for middle-tier residents. Against this backdrop, China initiated two rounds of non-mandatory housing purchase restrictions (HPRs) in 2010 and 2016, with 47 and 55 cities, respecti
This thesis examines the relationship between the Green Asset Ratio (GAR) and banks’ market-based funding costs in the European banking sector. The GAR is a sustainability disclosure introduced under the EU Taxonomy framework and is intended to provide a more standardized measure of banks’ environmentally sustainable exposures than traditional ESG ratings. Using a manually collected panel dataset
Prediction markets have gained considerable attention in recent years. They are increasingly featured in mainstream news coverage, with platforms such as Kalshi frequently cited by outlets including CNN, and their prices have been shown to influence traditional financial markets, as seen during the 2024 US presidential elec- tion. This thesis investigates how market microstructure affects forecast
This thesis investigates whether Polymarket’s prediction markets for FOMC interest rate decisions contain information that is not already incorporated into the US two-year Treasury yield. Polymarket is a modern and decentralized prediction market, and its pricing mechanism provides a valuable opportunity to study market efficiency in a new financial context. Using a quantitative method, the study
The Russia-Ukraine war of 2022 produced broad shocks to the commodity-market, sharply raising the prices of oil, natural gas, fertilizer, and food. The United States' missile strikes against Iran in February 2026 are an event of comparable geopolitical magnitude, but the commodity-market response so far appears concentrated in energy rather than spreading to fertilizer and food. This thesis f
This study examines whether firms with higher ESG ratings exhibit greater financial resilience during market crises. The analysis focuses on 347 publicly listed firms in Sweden, Norway, Denmark and Finland over the period 2013–2025. Financial resilience is examined through volatility, abnormal returns, max drawdown and recovery across three market crises: the Covid-19 pandemic, Russia’s invasion o
The thesis examines whether Swedish firms that conducted seasoned equity offerings (SEOs) between 2010 and 2020 experienced long-run abnormal stock returns over the 36 months following the offering. The study extends Loughran and Ritter’s (1995) U.S. evidence on the “new issues puzzle” to the Swedish market, where comparable evidence remains limited. The sample consists of 110 SEOs from firms list
The purpose of this paper is to examine our main hypothesis that deleveraging has a negative effect on economic growth. Furthermore, we include two additional hypotheses to examine whether expansionary fiscal policy can mitigate the negative effects of deleveraging and if deleveraging in combination with deflation is especially harmful for economic growth. Using quarterly observations between 200
Economists increasingly use machine learning (ML) to turn text into variables for regression analysis. These variables are predictions and can contain measurement error. This thesis asks how accounting for that error changes the estimated association between a confrontational speech opening and a later parliamentary interruption. The application uses 42,168 speeches from the Austrian National Coun
This thesis examines the relationship between wind power production and low electricity prices in the Swedish bidding zone SE3. Against the background of an increasing share of renewable electricity production, particularly wind power, and growing attention to negative electricity prices, the study analyzes whether higher wind power production is associated with a higher probability of very low pr
