Rational Expectations Equilibrium In An Economy With Segmented Capital Asset Markets
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Rational Expectations Equilibrium In An Economy With Segmented Capital Asset Markets
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Author : Amin H. Amershi
language : en
Publisher:
Release Date : 1995
Rational Expectations Equilibrium In An Economy With Segmented Capital Asset Markets written by Amin H. Amershi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Capital market categories.
Rational Expectations Equilibrium In A Large Economy With Segmented Asset Markets
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Author : Buddhavarapu Sailesh Ramamurtie
language : en
Publisher:
Release Date : 1990
Rational Expectations Equilibrium In A Large Economy With Segmented Asset Markets written by Buddhavarapu Sailesh Ramamurtie and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with categories.
Bubbles Rational Expectations And Financial Markets
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Author : Olivier J. Blanchard
language : en
Publisher:
Release Date : 1982
Bubbles Rational Expectations And Financial Markets written by Olivier J. Blanchard and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with Capital assets pricing model categories.
This paper investigates the nature and the presence of bubbles in financial markets. Are bubbles consistent with rationality? If they are, do they, like Ponzi games, require the presence of new players forever? Do they imply impossible events in finite time, such as negative prices? Do they need to go on forever to be rational? Can they have real effects? These are some of the questions asked in the first three sections. The general conclusion is that bubbles, in many markets, are consistent with rationality, that phenomena such as runaway asset prices and market crashes are consistent with rational bubbles. In the last two sections, we consider whether the presence of bubbles in a particular market can be detected statistically. The task is much easier if there are data on both prices and returns. In this case, as shown by Shiller and Singleton, the hypothesis of no bubble implies restrictions on their joint distribution and can be tested. In markets in which returns are difficult to observe, possibly because of a nonpecuniary component, such as gold, the task is more difficult. We consider the use of both "runs tests" and "tail tests" and conclude that they give circumstantial evidence at best.
A Model Of Intertemporal Asset Prices Under Asymmetric Information
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Author : Jiang Wang
language : en
Publisher: Franklin Classics
Release Date : 2018-10-16
A Model Of Intertemporal Asset Prices Under Asymmetric Information written by Jiang Wang and has been published by Franklin Classics this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-10-16 with categories.
This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Inside And Outside Liquidity
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Author : Bengt Holmstrom
language : en
Publisher: MIT Press
Release Date : 2013-01-11
Inside And Outside Liquidity written by Bengt Holmstrom and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-11 with Business & Economics categories.
Two leading economists develop a theory explaining the demand for and supply of liquid assets. Why do financial institutions, industrial companies, and households hold low-yielding money balances, Treasury bills, and other liquid assets? When and to what extent can the state and international financial markets make up for a shortage of liquid assets, allowing agents to save and share risk more effectively? These questions are at the center of all financial crises, including the current global one. In Inside and Outside Liquidity, leading economists Bengt Holmström and Jean Tirole offer an original, unified perspective on these questions. In a slight, but important, departure from the standard theory of finance, they show how imperfect pledgeability of corporate income leads to a demand for as well as a shortage of liquidity with interesting implications for the pricing of assets, investment decisions, and liquidity management. The government has an active role to play in improving risk-sharing between consumers with limited commitment power and firms dealing with the high costs of potential liquidity shortages. In this perspective, private risk-sharing is always imperfect and may lead to financial crises that can be alleviated through government interventions.
Optimal Macroprudential Policy And Asset Price Bubbles
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Author : Nina Biljanovska
language : en
Publisher: International Monetary Fund
Release Date : 2019-08-30
Optimal Macroprudential Policy And Asset Price Bubbles written by Nina Biljanovska 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 2019-08-30 with Business & Economics categories.
An asset bubble relaxes collateral constraints and increases borrowing by credit-constrained agents. At the same time, as the bubble deflates when constraints start binding, it amplifies downturns. We show analytically and quantitatively that the macroprudential policy should optimally respond to building asset price bubbles non-monotonically depending on the underlying level of indebtedness. If the level of debt is moderate, policy should accommodate the bubble to reduce the incidence of a binding collateral constraint. If debt is elevated, policy should lean against the bubble more aggressively to mitigate the pecuniary externalities from a deflating bubble when constraints bind.
Capital Market Segmentation And Us Farm Real Estate Pricing
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Author : Amr N. Shiha
language : en
Publisher:
Release Date : 1992
Capital Market Segmentation And Us Farm Real Estate Pricing written by Amr N. Shiha and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Agriculture categories.
Private Capital Markets Website
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Author : Robert T. Slee
language : en
Publisher: John Wiley & Sons
Release Date : 2011-05-31
Private Capital Markets Website written by Robert T. Slee and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-05-31 with Business & Economics categories.
Praise for Private Capital Markets Valuation, Capitalization, and Transfer of Private Business Interests SECOND EDITION "In the years since publication of the first edition of Private Capital Markets, the concepts and ideas that it presents have been widely accepted by progressive members of the business valuation community. Now with the Second Edition, author Rob Slee has included empirical data on capital markets for midsized businesses. This book remains a must for everyone involved in appraising, buying, selling, or financing privately owned businesses." —Raymond C. Miles, founder, The Institute of Business Appraisers "The Graziadio School of Business has used the Private Capital Markets book for several years with great success. This course, along with the Pepperdine Private Capital Markets Survey project, has helped our students better prepare for careers in middle market companies." —Linda Livingstone, Dean of the Graziadio School of Business and Management, Pepperdine University "Our international association of independent M&A professionals recommends this text as the most comprehensive foundation for understanding the private capital marketplace. This book is essential reading for middle market M&A advisors, investors, and other decision-makers in the private capital markets." —Mike Nall, founder, Alliance of M&A Advisors A practical road map for making sound investment and financing decisions based on real experiences and market needs Now fully revised and in a second edition, Private Capital Markets provides lawyers, accountants, bankers, estate planners, intermediaries, and other professionals with a workable framework for making sound investment and financing decisions based on their own needs and experiences. This landmark resource covers: Private business valuation Middle market capital sources The business ownership transfer spectrum And much more Private Capital Markets, Second Edition surveys the private capital markets and presents the proven guidance you need to navigate through these uncharted waters.
Market Risk Market Segmentation And Consumption Risk In Us Farm Real Estate
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Author : Amr Naguib Shiha
language : en
Publisher:
Release Date : 1992
Market Risk Market Segmentation And Consumption Risk In Us Farm Real Estate written by Amr Naguib Shiha and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with categories.
Liquidity And Asset Prices
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Author : Yakov Amihud
language : en
Publisher: Now Publishers Inc
Release Date : 2006
Liquidity And Asset Prices written by Yakov Amihud and has been published by Now Publishers Inc this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
Liquidity and Asset Prices reviews the literature that studies the relationship between liquidity and asset prices. The authors review the theoretical literature that predicts how liquidity affects a security's required return and discuss the empirical connection between the two. Liquidity and Asset Prices surveys the theory of liquidity-based asset pricing followed by the empirical evidence. The theory section proceeds from basic models with exogenous holding periods to those that incorporate additional elements of risk and endogenous holding periods. The empirical section reviews the evidence on the liquidity premium for stocks, bonds, and other financial assets.