PhD defence: Benjamin Knox

This thesis concerns financial markets and monetary policy. It consists of three chapters on the topics of insurance pricing, asset pricing and the economic effects of monetary policy respectively.
 
I find that insurance companies set the price of insurance contracts lower when their expected investment returns are higher (chapter one: with Jakob Ahm Sørensen), decompose stock returns into cashflow news and discount news using a novel method based on observables (chapter two: with Annette Vissing-Jorgensen) and identify the causal effect of US monetary policy on unemployment rates using GIV methods (chapter three).
 

Primary Supervisor:
Professor Lasse Heje Pedersen
Center for Financial Frictions
Copenhagen Business School
 
Secondary Supervisor:
Professor Peter Feldhütter
Center for Financial Frictions
Copenhagen Business School
 
Assessment Committee:
Professor Claus Munk (Chair)
Department of Finance
Copenhagen Business School
 
Associate Professor, Dr Michela Verardo
Department of Finance
London School of Economics and Political Science (LSE)
 
Professor Magnus Dahlquist
Department of Finance
Stockholm School of Economics (SSE)
 
Thesis:


The thesis will be available from research.cbs.dk
 
*Please note in connection with the online defence that the microphone and camera of all spectators must be turned off!