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Essays In Financial Economics
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Book Synopsis Essays in Financial Economics by : Rita Biswas
Download or read book Essays in Financial Economics written by Rita Biswas and published by Emerald Group Publishing. This book was released on 2019-10-24 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume, dedicated to John W. Kensinger, explores a variety of topics in financial economics, including firm growth, investment risks, and the profitability of the banking industry. With its global perspective, Essays in Financial Economics is a valuable addition to the bookshelf of any researcher in finance.
Book Synopsis Theory And Reality In Financial Economics: Essays Toward A New Political Finance by : George M Frankfurter
Download or read book Theory And Reality In Financial Economics: Essays Toward A New Political Finance written by George M Frankfurter and published by World Scientific. This book was released on 2007-11-01 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current literature on financial economics is dominated by neoclassical dogma and, supposedly, the notion of value-neutrality. However, the failure of neoclassical economics to deal with real financial phenomena suggests that this might be too simplistic of an approach.This book consists of a collection of essays dealing with financial markets' imperfections, and the inability of neoclassical economics to deal with such imperfections. Its central argument is that financial economics, as based on the tenets of neoclassical economics, cannot answer or solve the real-life problems that people face. It also shows the direct relationship between economics and politics — something that is usually denied in academic models, given that science is supposed to be value-neutral. In this thought-provoking and avant-garde book, the author not only exposes what has gone wrong, but also suggests reforms to both the academic and the political-economic systems that might help make markets fair rather than efficient. Drawing on interdisciplinary fields, this book will appeal to readers who are interested in finance, economics, business, the political economy and philosophy.
Book Synopsis Why the World Economy Needs a Financial Crash and Other Critical Essays on Finance and Financial Economics by : Jan Toporowski
Download or read book Why the World Economy Needs a Financial Crash and Other Critical Essays on Finance and Financial Economics written by Jan Toporowski and published by Anthem Press. This book was released on 2010-12-01 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays in this volume explain the key structural features of financial inflation that give rise to financial crisis. These features include excessive reliance on finance to maintain economic activity through rising asset prices. Reliance on asset inflation induces a preoccupation with property values and a new social divide between the asset-rich and the asset-poor that undermines the culture of the welfare state. When debt can no longer be supported by cash flow from asset markets, excess debt plunges economies into economic depression.
Book Synopsis Managing Global Money by : Graham Bird
Download or read book Managing Global Money written by Graham Bird and published by Springer. This book was released on 1988-05-24 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Essays on financial economics by : Pekka T. Hietala
Download or read book Essays on financial economics written by Pekka T. Hietala and published by . This book was released on 1989 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays in Financial Economics by : Wonseok Choi
Download or read book Essays in Financial Economics written by Wonseok Choi and published by . This book was released on 2002 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Empirical Essays in Financial Economics and International Finance by : Marek Kolar
Download or read book Three Empirical Essays in Financial Economics and International Finance written by Marek Kolar and published by . This book was released on 2008 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays in Financial Economics by : Gurdip Singh Bakshi
Download or read book Essays in Financial Economics written by Gurdip Singh Bakshi and published by . This book was released on 1992 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essay in Financial Economics by : Martin Reinke
Download or read book Essay in Financial Economics written by Martin Reinke and published by . This book was released on 2024 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays in History by : Charles Poor Kindleberger
Download or read book Essays in History written by Charles Poor Kindleberger and published by University of Michigan Press. This book was released on 1999 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Classic Kindleberger: Engaging and stimulating reading on eclectic topics in finance, economics, and the life of this captivating author
Book Synopsis Essays in Financial Economics by : Mattia Colombo
Download or read book Essays in Financial Economics written by Mattia Colombo and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Two Essays in Financial Economics by : Bo Liu
Download or read book Two Essays in Financial Economics written by Bo Liu and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in Financial Economics written by and published by . This book was released on 2014 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first chapter studies policies designed by the European and US monetary authorities to revive the issuance of asset backed securities (ABS) after the financial crisis of late 2007. I examine how policy program announcements affected excess ABS spreads in the context of event studies, that is, I investigate how spreads of newly issued ABS changed over and above broader market spread changes during the week of an announcement. I find that announcements for both the European Central Bank's Eligible Collateral Program for Credit Provisions and the Federal Reserve's Term Asset Backed Securities Loan Facility (TALF) reduced and stabilized excess ABS spreads by late 2009. The second chapter studies the determinants of primary market spreads of fixed-rate asset and mortgage backed securities in the US, euro-area and Japanese markets, using data from 1999 to 2012. In addition to credit ratings, weighted average life to maturity and controls for time and collateral asset type variation contribute to the explained variability of ABS spreads, but proxies for liquidity such as principal amounts or number of tranches do not. I find a positive premium for tranches issued in the US marketplace than the European or the Japanese, while European and Japanese nationality originators enjoy a premium relative to US nationality originator institutions. The third chapter contributes to the study of the Forward Premium Puzzle by connecting the time series properties of the forward premium and the implied risk premiums of consumption-based models. A risk-based explanation of the puzzle under the Efficient Market Hypothesis (EMH) requires that risk and forward premiums be either stationary, or cointegrated with the same order of (fractional) integration. I document the persistence/non-stationarity of the log forward premium in exchange rates and examine the order of persistence of the implied risk premiums in three models of consumption growth risk. Using US and UK data, the habit consumption-based model of Verdelhan (2010) produces persistent risk premia with the same order of fractional integration as the GBP/USD forward premium. Moreover, the two premiums have a cointegrating relationship. These findings provide additional support to Verdelhan's model for an explanation of currency excess returns.
Book Synopsis Empirical Essays on Financial Economics by : Henrik Degrér
Download or read book Empirical Essays on Financial Economics written by Henrik Degrér and published by . This book was released on 2004 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays in Financial Economics by :
Download or read book Three Essays in Financial Economics written by and published by . This book was released on 2013 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is composed of three chapters that try to address questions in three different fields. In Chapter 1, I provide evidence that acquirers often pursue takeovers to catch up with competitors. This motive for takeovers leads to an important self-selection problem that is largely overlooked in previous studies, and causes downward bias in traditional estimates of takeover gains. I build a structural model to quantify this bias and measure acquirers' true takeover gains. Once estimated to match key data moments, the model produces a significantly positive takeover gain for acquirers as high as 12% of the firm value and implies a sizable bias of -16% in traditional empirical estimates. In Chapter 2, I document that high inflation predicts a decline in future real consumption and equity cash-flows, which is significantly stronger for durable than for non-durable goods. This suggests that durables is an important channel through which inflation affects long-term economic growth and asset prices. I derive and estimate an equilibrium two-good nominal economy model. The model can account for the key features of macro data, nominal bond yields and equity prices in durable and nondurable sectors. Inflation non-neutrality for durable consumption plays the key role to explain these data features. In Chapter 3, I study the impact of market competition on intermediate input quality and market share dynamics in credit rating - security issuance. In the upstream market, aggressive strategic behavior on part of credit rating agencies (CRAs) is negatively correlated with their lagged movements in market share but positively correlated with their contemporaneous movements in market share. This finding indicates that CRAs respond strategically to increasing competition by producing more "issuer-friendly" ratings. In the downstream market, investors adjust prices for credit risk but not for the effects of CRAs competition. Combining this evidence together, I conclude that policy intervention and public monitoring are necessary to restore a disciplined and well-functioning credit rating market.
Book Synopsis Essays on Financial Economics by : Masaru Konishi
Download or read book Essays on Financial Economics written by Masaru Konishi and published by . This book was released on 1994 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essay on Economic Theory, An by : Richard Cantillon
Download or read book Essay on Economic Theory, An written by Richard Cantillon and published by Ludwig von Mises Institute. This book was released on 2010 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt:
