Essays On Financial Markets And Macroeconomics

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Essays On Financial Markets And Macroeconomics

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Author : Alessandra Bonfiglioli
language : en
Publisher:
Release Date : 2005

Essays On Financial Markets And Macroeconomics written by Alessandra Bonfiglioli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with International finance categories.

Essays On Financial Markets And Macroeconomics

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Author : Toni Beutler
language : en
Publisher:
Release Date : 2013

Essays On Financial Markets And Macroeconomics written by Toni Beutler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.

Managing Global Money

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Author : Graham Bird
language : en
Publisher: Springer
Release Date : 1988-05-24

Managing Global Money written by Graham Bird and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-05-24 with Business & Economics categories.

This collection of articles and papers has been organised under a limited number of specific themes in international financial economics, including balance of payment theory and policy, the activities of the IMF, Special Drawing Rights, the role of the private financial markets, and the international economic order. A unifying theme running through all the essays is that some degree of management of international financial affairs is desirable. The book has a strong policy orientation and should be of interest to students and practitioners of international financial economics alike.

Essays In Macroeconomics

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Author : Luigi Iovino
language : en
Publisher:
Release Date : 2012

Essays In Macroeconomics written by Luigi Iovino and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.

This thesis studies how information imperfections affect financial markets and the macroeconomy. Chapter 1 considers an economy where investors delegate their investment decisions to financial institutions that choose across multiple investment opportunities featuring different levels of idiosyncratic risk and different degrees of correlation with the aggregate of the economy. Investors solve an optimal contracting problem to induce financial institutions to allocate their investment optimally. We then study how investment decisions are affected when financial securities are introduced that allow agents to trade their risks. Investors do not have the necessary information to understand these securities, but give incentives to financial institutions to hedge certain risks. We show that hedging idiosyncratic risks ameliorates the agency problem between investors and financial institutions and reduces aggregate volatility. On the contrary, when aggregate risk can be hedged the agency problem worsens and aggregate volatility increases. Finally, we study the efficiency properties of the equilibrium and the potential role for financial regulation. Chapter 2 studies the welfare effects of the information contained in macroeconomic statistics, central-bank communications, or news in the media? We address this question in a business-cycle framework that nests the neoclassical core of modem DSGE models. Earlier lessons that were based on "beauty contests" (Morris and Shin, 2002) are found to be inapplicable. Instead, the social value of information is shown to hinge on essentially the same conditions as the optimality of output stabilization policies. More precise information is unambiguously welfare-improving as long as the business cycle is driven primarily by technology and preference shocks-but can be detrimental when shocks to markups and wedges cause sufficient volatility in "output gaps". Finally, chapter 3 studies how market signals-such as stock prices-can help alleviate the severity of the asymmetric information problem in credit and liquidity management. Asymmetric information hinders the ability of borrowers (firms, investment banks, etc) to undertake profitable investment opportunities and to insure themselves against liquidity shocks. On the equilibrium path, creditors need not learn anything from market signals because they can use a menu of contracts to screen the different types of borrowers. Nevertheless, by conditioning liquidity insurance on ex post price signals, creditors are able to provide the borrowers with better incentives for truth-telling. At the same time, prices depend on the liquidity that creditors offer to the borrowers. This two-way feedback impacts the design of the optimal contract and potentially generates multiple equilibria in financial markets.

Macroeconomics Finance And Money

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Author : Giuseppe Fontana
language : en
Publisher: Springer
Release Date : 2010-03-11

Macroeconomics Finance And Money written by Giuseppe Fontana and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-03-11 with Business & Economics categories.

This volume focuses on current issues of debate in the area of modern macroeconomics and money, written from (a broadly interpreted) post Keynesian perspective. The papers connect with Philip Arestis' contributions to macroeconomics and money, and pay tribute to his distinguished career.

Financial Conditions And Macroeconomic Performance

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Author : Steven M. Fazzari
language : en
Publisher: Routledge
Release Date : 2015-06-05

Financial Conditions And Macroeconomic Performance written by Steven M. Fazzari and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-05 with Business & Economics categories.

This collection of papers on financial instability and its impact on macroeconomic performance honours Hyman P. Minsky and his lifelong work. It is based on a conference at Washington University, St. Louis, in 1990 and includes among the authors Benjamin M. Friedman, Charles P. Kindleberger, Jan Kregel and Steven Fazzari. These papers consider Minsky's definitive analysis that yields such a clear and disturbing sequence of financial events: booms, government intervention to prevent debt contraction and new booms that cause a progressive buildup of new debt, eventually leaving the economy much more fragile financially.

Essays On Banking Financial Markets And Macroeconomics

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Author : Zhao Yang
language : en
Publisher:
Release Date : 2013

Essays On Banking Financial Markets And Macroeconomics written by Zhao Yang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.

Nonlinear Economic Dynamics And Financial Modelling

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Author : Roberto Dieci
language : en
Publisher: Springer
Release Date : 2014-07-26

Nonlinear Economic Dynamics And Financial Modelling written by Roberto Dieci and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-26 with Business & Economics categories.

This book reflects the state of the art on nonlinear economic dynamics, financial market modelling and quantitative finance. It contains eighteen papers with topics ranging from disequilibrium macroeconomics, monetary dynamics, monopoly, financial market and limit order market models with boundedly rational heterogeneous agents to estimation, time series modelling and empirical analysis and from risk management of interest-rate products, futures price volatility and American option pricing with stochastic volatility to evaluation of risk and derivatives of electricity market. The book illustrates some of the most recent research tools in these areas and will be of interest to economists working in economic dynamics and financial market modelling, to mathematicians who are interested in applying complexity theory to economics and finance and to market practitioners and researchers in quantitative finance interested in limit order, futures and electricity market modelling, derivative pricing and risk management.

Intervention Interest Rates And Charts

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Author : Mr.Mark P. Taylor
language : en
Publisher: International Monetary Fund
Release Date : 1991-11-01

Intervention Interest Rates And Charts written by Mr.Mark P. Taylor and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-11-01 with Business & Economics categories.

This paper contains essays on sterilized intervention, on covered interest rate parity, and on chartist analysis in financial markets. Each essay contains a definition, brief survey of the empirical evidence and overall assessment of each topic.

Essays In Macroeconomics And Financial Markets

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Author : Ariel Zetlin-Jones
language : en
Publisher:
Release Date : 2012

Essays In Macroeconomics And Financial Markets written by Ariel Zetlin-Jones and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.