The Economics of Financial Markets

Author: Roy E. Bailey

Publisher: Cambridge University Press

ISBN: 1139444891

Category: Business & Economics

Page: 548

View: 5402

The Economics of Financial Markets presents a concise overview of capital markets, suitable for advanced undergraduates and for beginning graduate students in financial economics. Following a brief overview of financial markets - their microstructure and the randomness of stock market prices - this textbook explores how the economics of uncertainty can be applied to financial decision-making. The mean-variance model of portfolio selection is discussed, with analysis extended to the capital asset pricing model (CAPM). Arbitrage plays a pivotal role in finance and is studied in a variety of contexts, including the APT model of asset prices. Methods for the empirical evaluation of CAPM and APT are also discussed, together with the volatility of asset prices, the intertemporal CAPM and the equity premium puzzle. An analysis of bond contracts leads into an assessment of theories of the term structure of interest rates. Finally, financial derivatives are explored, focusing on futures and options contracts.
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Introduction to the Economics of Financial Markets

Author: James Bradfield

Publisher: Oxford University Press

ISBN: 9780198042440

Category: Business & Economics

Page: 512

View: 2497

There are many textbooks for business students that provide a systematic, introductory development of the economics of financial markets. However, there are as yet no introductory textbooks aimed at more easily daunted undergraduate liberal arts students. Introduction to the Economics of Financial Markets fills this gap by providing an extremely accessible introductory exposition of how economists analyze both how, and how well, financial markets organize the intertemporal allocation of scarce resources. The central theme is that the function of a system of financial markets is to enable consumers, investors, and managers of firms to effect mutually beneficial intertemporal exchanges. James Bradfield uses the standard concept of economic efficiency (Pareto Optimality) to assess the efficacy of the financial markets. He presents an intuitive, and introductory, understanding of the primary theoretical and empirical models that economists use to analyze financial markets, and then uses these models to discuss implications for public policy. Students who use this text will acquire an understanding of the economics of financial markets that will enable them to read, with some sophistication, articles in the public press about financial markets and about public policy toward those markets. The book is addressed to undergraduate students in the liberal arts, but will also be useful for undergraduate and beginning graduate students in programs of business administration who want an understanding of how economists assess financial markets against the criteria of allocative and informational efficiency.
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The Economics of Financial Markets

Author: Hendrik S. Houthakker,Peter J. Williamson

Publisher: Oxford University Press

ISBN: 9780198021322

Category: Business & Economics

Page: 376

View: 9184

This book puts economics to work on the daily problems faced by investors, traders, speculators and brokers as they wrestle with increasingly complex financial markets. Drawing on data direct from the financial behavior of households, corporations, and governments, through to the prices of individual securities, the authors show how accessible but rigorous economics can help the players make sense of the hour-by-hour reality of the way financial markets move. Many of the twists and turns that might seem random at first sight are, they contend, rational and often predictable. But inefficiencies do exist, and the authors also demonstrate how these can become unique profit opportunities. By bringing together information on the daily workings of financial markets with the concepts and tools of economics, Houthakker and Williamson have provided a valuable resource for practitioners and students alike.
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Handbook of the Economics of Finance

Financial Markets and Asset Pricing

Author: G. Constantinides,Rene M. Stulz,M. Harris

Publisher: Elsevier

ISBN: 9780080495088

Category: Business & Economics

Page: 694

View: 5145

Volume 1B covers the economics of financial markets: the saving and investment decisions; the valuation of equities, derivatives, and fixed income securities; and market microstructure.
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The Economics of Money, Banking, and Financial Markets

Author: Frederic S. Mishkin

Publisher: Pearson Education

ISBN: 9780321454225

Category: Banks and banking

Page: 716

View: 5870

Economics of Money, Banking, and Financial Markets heralded a dramatic shift in the teaching of the money and banking course in its first edition, and today it is still setting the standard. By applying an analytical framework to the patient, stepped-out development of models, Frederic Mishkin draws students into a deeper understanding of modern monetary theory, banking, and policy. His landmark combination of common sense applications with current, real-world events provides authoritative, comprehensive coverage in an informal tone students appreciate.
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Analyzing the Economics of Financial Market Infrastructures

Author: Diehl, Martin

Publisher: IGI Global

ISBN: 1466687460

Category: Business & Economics

Page: 411

View: 2679

The prosperity and stability of any economic structure is reliant upon a foundation of secure systems that regulate the movement of money across the globe. These structures have become an integral part of contemporary society by reducing monetary risk and increasing financial security. Analyzing the Economics of Financial Market Infrastructures is a pivotal reference source for the latest scholarly research on the current developments in financial systems and how these processes are evolving due to new regulations and technical advances. Featuring extensive coverage on a range of relevant topics on payment systems, central securities depositories, central counterparties, and trade repositories, this book is an essential reference source for professionals in the financial sector, analysts, IT professionals, and academicians concerned with emerging research on financial markets. This book features timely, research-based chapters on a variety of crucial topics including, but not limited to, payment timing, multi-layer networks, transaction simulations, payment system analysis, and regulation of financial marketplaces.
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Financialization

The Economics of Finance Capital Domination

Author: Thomas I. Palley

Publisher: Palgrave Macmillan

ISBN: 1137265833

Category: Business & Economics

Page: 248

View: 2382

This book explores the process of financialization whereby economies are increasingly dominated by finance capital. This process is characterized by rising income inequality, wage stagnation, increased indebtedness, a rising financial sector share of profits, and tendencies to generate asset price bubbles. The financial crisis of 2008 and the subsequent recession and stagnation represent the latest phase. The book provides a comprehensive treatment of these developments, beginning with a presentation of the empirical evidence. That is followed by economic theory chapters dealing with the macroeconomics of financialization, business cycle effects; microeconomic developments; tendencies toward Minsky-style economic instability; and economic growth effects. The final section of the book focuses on the political economy of financialization and policies to stabilize financial markets.
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Introduction to the Economics and Mathematics of Financial Markets

Author: Jakša Cvitanić,Fernando Zapatero

Publisher: MIT Press

ISBN: 9780262033206

Category: Business & Economics

Page: 494

View: 3389

An innovative textbook for use in advanced undergraduate and graduate courses; accessible to students in financial mathematics, financial engineering and economics. Introduction to the Economics and Mathematics of Financial Markets fills the longstanding need for an accessible yet serious textbook treatment of financial economics. The book provides a rigorous overview of the subject, while its flexible presentation makes it suitable for use with different levels of undergraduate and graduate students. Each chapter presents mathematical models of financial problems at three different degrees of sophistication: single-period, multi-period, and continuous-time. The single-period and multi-period models require only basic calculus and an introductory probability/statistics course, while an advanced undergraduate course in probability is helpful in understanding the continuous-time models. In this way, the material is given complete coverage at different levels; the less advanced student can stop before the more sophisticated mathematics and still be able to grasp the general principles of financial economics. The book is divided into three parts. The first part provides an introduction to basic securities and financial market organization, the concept of interest rates, the main mathematical models, and quantitative ways to measure risks and rewards. The second part treats option pricing and hedging; here and throughout the book, the authors emphasize the Martingale or probabilistic approach. Finally, the third part examines equilibrium models--a subject often neglected by other texts in financial mathematics, but included here because of the qualitative insight it offers into the behavior of market participants and pricing.
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The Economics of Financial Markets and the 1987 Crash

Author: Jan Toporowski

Publisher: Edward Elgar Pub

ISBN: 9781852789152

Category: Business & Economics

Page: 162

View: 6691

The Economics of Financial Markets and the 1987 Crash is the first thorough and systematic account of the antecedents and economic consequences of the stock market crash of 1987 in the world's major financial centres.
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Study Guide for the Economics of Money, Banking, and Financial Markets and the Economics of Money, Banking, and Financial Markets Business School Edition

Author: Davide S. Hakes,Edward Gamber,Aaron L. Jackson,David R. Hakes,Frederic S. Mishkin

Publisher: Prentice Hall

ISBN: 9780132769426

Category: Business & Economics

Page: 554

View: 4888

This product accompanies: Mishkin, Economics of Money, Banking and Financial Markets, The: The Business School Edition: International Edition, 3/EThe Economics of Money, Banking, and Financial Markets set the standard for money and banking courses when it published in its first edition, and it continues to be the worldwide market leader. For professors who teach with less emphasis on monetary theory and prefer to focus more time on financial institutions, the Business School Edition is an ideal alternative. By applying a unified analytical framework to the models, Mishkin makes theory intuitive for students, and the rich array of current, real-world events keeps students motivated. Authoritative, comprehensive, and flexible, the text is easy to integrate into a wide variety of syllabi, and its ancillaries provide complete support when teaching the course. This edition continues to expand on the discussion of the current financial crisis.
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The Economics of Imperfect Markets

The Effects of Market Imperfections on Economic Decision-Making

Author: Giorgio Calcagnini,Enrico Saltari

Publisher: Springer Science & Business Media

ISBN: 9783790821314

Category: Business & Economics

Page: 234

View: 1917

The real world is characterized by the presence of imperfections in goods, financial and labour markets. These imperfections have the potential to create links among those markets that differ in a relevant way from those outlined in the standard model. In financial markets, imperfections can alter the efficiency of the economy and thus cause unintended effects on goods and labour markets. Moreover, in the presence of market distortions, the interaction between policies and institutions becomes a critical aspect. This book, which brings together essays from distinguished scholars on this subject, provides new insights on how these imperfections affect the outcomes of real-world markets.
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The Economics of Money, Banking, and Financial Markets

Author: Frederic S. Mishkin

Publisher: Prentice Hall

ISBN: 9780132741378

Category: Business & Economics

Page: 642

View: 4417

The historic economic events and financial crises of late 2008 have changed the entire landscape of money and banking. Having just served as Governor of the Federal Reserve, only Mishkin has the unique insider's perspective needed to present the current state of money and banking and explain the latest debates and issues for today's students. By applying a unified analytical framework to the models, The Economics of Money, Banking, and Financial Markets makes theory intuitive for students, and the rich array of current, real-world events keeps students motivated. Authoritative, comprehensive, and flexible, the text is easy to integrate into a wide variety of syllabi, and its ancillaries provide complete support when teaching the course.
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The Economics of Money, Banking and Financial Markets Plus MyEconLab in CourseCompass Plus EBook Student Access Kit, Alternate Edition

Author: Frederic S. Mishkin

Publisher: Prentice Hall

ISBN: 9780321456472

Category:

Page: N.A

View: 7421

"Economics of Money, Banking, and Financial Markets" heralded a dramatic shift in the teaching of the money and banking course in its first edition, and today it is still setting the standard. This Alternate Edition of "The Economics of Money, Banking, and Financial Markets "is the ideal choice for courses with limited emphasis on monetary theory-due to a prerequisite course in intermediate macroeconomics or a business school focus.
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Solutions Manual for Introduction to the Economics and Mathematics of Financial Markets

Author: Jakša Cvitanić,Fernando Zapatero

Publisher: MIT Press

ISBN: 9780262532594

Category: Business & Economics

Page: 60

View: 3102

This textbook in financial economics provides a rigorous overview of the subject that -- because of an innovative presentation -- is suitable for use with different levels of undergraduate and graduate students. Each chapter presents mathematical models of financial problems at three levels of sophistication: single-period, multi-period, and continuous-time. The single-period and multi-period models require only basic calculus and an introductory probability/statistics course, while an advanced undergraduate course in probability is helpful in understanding the continuous-time models. In this way the material is given complete coverage at different levels; the less advanced student can stop before the more sophisticated mathematics and still be able to grasp the general principles of financial economics.
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Governance of Global Financial Markets

The Law, the Economics, the Politics

Author: Emilios Avgouleas

Publisher: Cambridge University Press

ISBN: 0521762669

Category: Business & Economics

Page: 477

View: 2744

Analyses governance structures for international finance, evaluates current regulatory reforms and proposes a new governance system for global financial markets.
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Economics for Financial Markets

Author: Brian Kettell

Publisher: Elsevier

ISBN: 0080494633

Category: Business & Economics

Page: 384

View: 5216

Successful trading, speculating or simply making informed decisions about financial markets means it is essential to have a firm grasp of economics. Financial market behaviour revolves around economic concepts, however the majority of economic textbooks do not tell the full story. To fully understand the behaviour of financial markets it is essential to have a model that enables new information to be absorbed and analysed with some predictive implications. That model is provided by the business cycle. 'Economics for Financial Markets' takes the reader from the basics of financial market valuation to a more sophisticated understanding of the actions that traders take which ultimately drives the volatility in the financial markets. The author shows traders, investment managers, risk managers and finance professionals how to distil the flow of information and show what needs to be concentrated on, covering topics such as: * Why are financial markets subject to economic fashions? * How has the New Economy changed financial market behaviour? * Does the creation of the euro fundamentally change the behaviour of the currency markets? Shows how to distil the vast amount of information in financial markets and identify what is important Demonstrates how the "New Economy" had changed financial market behaviour Explains how to follow the behaviour of central banks
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The Economics of Money, Banking and Financial Markets, Sixth Canadian Edition Plus MyEconLab with Pearson EText -- Access Card Package

Author: Frederic S. Mishkin,Apostolos Serletis

Publisher: N.A

ISBN: 9780134376936

Category:

Page: N.A

View: 7096

NOTE: Before purchasing, check with your instructor to ensure you select the correct ISBN. Several versions of Pearson's MyLab & Mastering products exist for each title, and registrations are not transferable. To register for and use Pearson's MyLab & Mastering products, you may also need a Course ID, which your instructor will provide. Used books, rentals, and purchases made outside of Pearson If purchasing or renting from companies other than Pearson, the access codes for Pearson's MyLab & Mastering products may not be included, may be incorrect, or may be previously redeemed. Check with the seller before completing your purchase. The Economics of Money, Banking, and Financial Markets provides a unifying and analytic framework that uses basic economic principles to organize students' thinking about the structure of financial markets, the foreign exchange markets, financial institution management, and the role of monetary policy in the economy. 0134376935 / 9780134376936 The Economics of Money, Banking and Financial Markets, Sixth Canadian Edition Plus MyEconLab with Pearson eText -- Access Card Package Package consists of: 0133897389 / 9780133897388 The Economics of Money, Banking and Financial Markets, Sixth Canadian Edition 0134323432 / 9780134323435 NEW MyEconLab with Pearson eText -- Valuepack Access Card -- for The Economics of Money, Banking and Financial Markets, Sixth Canadian Edition
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