Interest Rates And Asset Prices
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Interest Rates And Asset Prices
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Author : Ralph Turvey
language : en
Publisher: Routledge
Release Date : 2022-04-29
Interest Rates And Asset Prices written by Ralph Turvey and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-04-29 with Business & Economics categories.
First published in 1960, Interest Rates and Asset Prices presents an analysis of the determination of interest rates and asset prices with the help of few simple assumptions. The theory can be regarded either as an alternative to the liquidity preference theory or as an extension of it. Like that theory, it is aggregative and simple, but it is applicable not only to interest rates on government securities but also to yields on real assets. Furthermore, it can be formulated in terms of actually measurable variables, so that it is directly applicable to particular situations. This is demonstrated by a statistical example relating to the average yield on U.S. Government securities in the post- war period. In addition to the main analysis the author discusses the role of financial intermediaries and the structure of interest rates, and there is also a re-examination of the determinants of the transactions demand for money. This is book is an essential read for students of economics.
On Interest Rates And Asset Prices In Europe
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Author : M. M. G. Fase
language : en
Publisher: Edward Elgar Publishing
Release Date : 1999
On Interest Rates And Asset Prices In Europe written by M. M. G. Fase and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Business & Economics categories.
Presenting 25 years of empirical research on interest rates and a variety of asset prices, this text aims to deepen understanding of asset price inflation. It includes an analysis of the measurement of interest rates, with case studies from The Netherlands, Belgium and EMU, and emphasizes statistical measurement and the attempt to understand interest rate behaviour through statistical estimation. The text also includes an examination of historical interest rate development in the long run, both theoretically and empirically. The behaviour of bonds, stocks, and investment in art are analyzed, as well as the factors indispensable for a monetary strategy designed to target inflation.
Asset Prices And Central Bank Policy
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Author : Stephen Giovanni Cecchetti
language : en
Publisher: Centre for Economic Policy Research
Release Date : 2000
Asset Prices And Central Bank Policy written by Stephen Giovanni Cecchetti and has been published by Centre for Economic Policy Research this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
Concludes the role of asset prices in monetary policy is one of the most important, and difficult, questions confronting central banks.
Low Interest Rates And High Asset Prices
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Author : Robert J. Shiller
language : en
Publisher:
Release Date : 2007
Low Interest Rates And High Asset Prices written by Robert J. Shiller and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Assets (Accounting) categories.
There has been a widespread perception in the past few years that long-term asset prices are generally high because monetary authorities have effectively kept long-term interest rates, which the market uses to discount cash flows, low. This perception is not accurate. Long-term interest rates have not been especially low. What has changed to produce high asset prices appears instead to be changes in popular economic models that people actually rely on when valuing assets. The public has mostly forgotten the concept of "real interest rate." Money illusion appears to be an important factor to consider.
Asset Prices Booms And Recessions
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Author : Willi Semmler
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-06-15
Asset Prices Booms And Recessions written by Willi Semmler and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-15 with Business & Economics categories.
The financial market melt-down of the years 2007-2009 has posed great challenges for studies on financial economics. This financial economics text focuses on the dynamic interaction of financial markets and economic activity. The financial market to be studied here encompasses the money and bond market, credit market, stock market and foreign exchange market; economic activity includes the actions and interactions of firms, banks, households, governments and countries. The book shows how economic activity affects asset prices and the financial market, and how asset prices and financial market volatility and crises impact economic activity. The book offers extensive coverage of new and advanced topics in financial economics such as the term structure of interest rates, credit derivatives and credit risk, domestic and international portfolio theory, multi-agent and evolutionary approaches, capital asset pricing beyond consumption-based models, and dynamic portfolio decisions. Moreover a completely new section of the book is dedicated to the recent financial market meltdown of the years 2007-2009. Emphasis is placed on empirical evidence relating to episodes of financial instability and financial crises in the U.S. and in Latin American, Asian and Euro-area countries. Overall, the book explains what researchers and practitioners in the financial sector need to know about the financial-real interaction, and what practitioners and policy makers need to know about the financial market.
Global Liquidity And Asset Prices
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Author : Mr.Charles Frederick Kramer
language : en
Publisher: International Monetary Fund
Release Date : 1999-12-01
Global Liquidity And Asset Prices written by Mr.Charles Frederick Kramer 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 1999-12-01 with Business & Economics categories.
Much recent commentary suggests that global liquidity has influenced financial conditions in the major international markets to an important degree, and that excess liquidity in one financial center can influence financial conditions elsewhere. Little formal research has addressed these issues, however. In this paper, we use three indexes of liquidity (money growth) in the Group of Seven industrial countries to explore the international dimension of the relationship between liquidity and asset returns. Evidence suggests that an increase in G-7 liquidity is consistent with a decline in G-7 real interest rates and an increase in G-7 real stock returns. There is also evidence of liquidity spillovers across countries.
Asset Prices And Monetary Policy
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Author : John Y. Campbell
language : en
Publisher: University of Chicago Press
Release Date : 2008-11-15
Asset Prices And Monetary Policy written by John Y. Campbell and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-11-15 with Business & Economics categories.
Economic growth, low inflation, and financial stability are among the most important goals of policy makers, and central banks such as the Federal Reserve are key institutions for achieving these goals. In Asset Prices and Monetary Policy, leading scholars and practitioners probe the interaction of central banks, asset markets, and the general economy to forge a new understanding of the challenges facing policy makers as they manage an increasingly complex economic system. The contributors examine how central bankers determine their policy prescriptions with reference to the fluctuating housing market, the balance of debt and credit, changing beliefs of investors, the level of commodity prices, and other factors. At a time when the public has never been more involved in stocks, retirement funds, and real estate investment, this insightful book will be useful to all those concerned with the current state of the economy.
On The Interaction Between Asset Prices Inflation And Interest Rates
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Author : Alexandros Kontonikas
language : en
Publisher:
Release Date : 2004
On The Interaction Between Asset Prices Inflation And Interest Rates written by Alexandros Kontonikas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
Inflation Asset Prices And The Term Structure Of Interest Rates In Monetary Economies
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Author : Zhiwu Chen
language : en
Publisher:
Release Date : 2000
Inflation Asset Prices And The Term Structure Of Interest Rates In Monetary Economies written by Zhiwu Chen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with categories.
This article offers a tractable monetary asset pricing model. In monetary economies, the price level, inflation, asset prices, and the real and nominal interest rates have to be determined simultaneously and in relation to each other. This link allows us to relate in closed form each of the dependent entities to the underlying real and monetary variables. Among other features of such economies, inflation can be partially non-monetary and the real and nominal term structures can depend on fundamentally different risk factors. In one extreme, the process followed by the real term structure is independent of that followed by its nominal counterpart.
Exploring Aggregate Asset Price Fluctuations Across Countries
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Author : C. E. V. Borio
language : en
Publisher:
Release Date : 1994
Exploring Aggregate Asset Price Fluctuations Across Countries written by C. E. V. Borio and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Accounting and price fluctuations categories.