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The Myth Of The Credit Spread Puzzle
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Book Synopsis The Myth of the Credit Spread Puzzle by : Peter Feldhütter
Download or read book The Myth of the Credit Spread Puzzle written by Peter Feldhütter and published by . This book was released on 2018 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: We ask whether a standard structural model (Black and Cox (1976)) is able to explain credit spreads on corporate bonds and, in contrast to much of the literature, we find that the model matches the level of investment grade spreads well. Model spreads for speculative grade debt are too low and we find that bond illiquidity contributes to this underpricing. Our analysis makes use of a new approach for calibrating the model to historical default rates that leads to much more precise estimates of investment grade default probabilities.
Book Synopsis Handbook of Corporate Finance by : David J. Denis
Download or read book Handbook of Corporate Finance written by David J. Denis and published by Edward Elgar Publishing. This book was released on 2024-02-12 with total page 709 pages. Available in PDF, EPUB and Kindle. Book excerpt: Expertly surveying the realm of corporate finance, this adroitly-crafted Handbook offers a wealth of conceptual analysis and comprehensively outlines recent scholarly research and developments within the field. It not only delves into the theoretical dimensions of corporate finance, but also explores its practical implications, thereby bridging the gap between these distinct strands.
Book Synopsis Quantitative Risk and Portfolio Management by : Kenneth J. Winston
Download or read book Quantitative Risk and Portfolio Management written by Kenneth J. Winston and published by Cambridge University Press. This book was released on 2023-09-21 with total page 647 pages. Available in PDF, EPUB and Kindle. Book excerpt: A modern introduction to risk and portfolio management for advanced undergraduate and beginning graduate students who will become practitioners in the field of quantitative finance, including extensive live data and Python code as online supplements which allow the application of theory to real-world situations.
Book Synopsis Handbook of Fixed-Income Securities by : Pietro Veronesi
Download or read book Handbook of Fixed-Income Securities written by Pietro Veronesi and published by John Wiley & Sons. This book was released on 2016-03-23 with total page 1036 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive guide to the current theories and methodologies intrinsic to fixed-income securities Written by well-known experts from a cross section of academia and finance, Handbook of Fixed-Income Securities features a compilation of the most up-to-date fixed-income securities techniques and methods. The book presents crucial topics of fixed income in an accessible and logical format. Emphasizing empirical research and real-life applications, the book explores a wide range of topics from the risk and return of fixed-income investments, to the impact of monetary policy on interest rates, to the post-crisis new regulatory landscape. Well organized to cover critical topics in fixed income, Handbook of Fixed-Income Securities is divided into eight main sections that feature: • An introduction to fixed-income markets such as Treasury bonds, inflation-protected securities, money markets, mortgage-backed securities, and the basic analytics that characterize them • Monetary policy and fixed-income markets, which highlight the recent empirical evidence on the central banks’ influence on interest rates, including the recent quantitative easing experiments • Interest rate risk measurement and management with a special focus on the most recent techniques and methodologies for asset-liability management under regulatory constraints • The predictability of bond returns with a critical discussion of the empirical evidence on time-varying bond risk premia, both in the United States and abroad, and their sources, such as liquidity and volatility • Advanced topics, with a focus on the most recent research on term structure models and econometrics, the dynamics of bond illiquidity, and the puzzling dynamics of stocks and bonds • Derivatives markets, including a detailed discussion of the new regulatory landscape after the financial crisis and an introduction to no-arbitrage derivatives pricing • Further topics on derivatives pricing that cover modern valuation techniques, such as Monte Carlo simulations, volatility surfaces, and no-arbitrage pricing with regulatory constraints • Corporate and sovereign bonds with a detailed discussion of the tools required to analyze default risk, the relevant empirical evidence, and a special focus on the recent sovereign crises A complete reference for practitioners in the fields of finance, business, applied statistics, econometrics, and engineering, Handbook of Fixed-Income Securities is also a useful supplementary textbook for graduate and MBA-level courses on fixed-income securities, risk management, volatility, bonds, derivatives, and financial markets. Pietro Veronesi, PhD, is Roman Family Professor of Finance at the University of Chicago Booth School of Business, where he teaches Masters and PhD-level courses in fixed income, risk management, and asset pricing. Published in leading academic journals and honored by numerous awards, his research focuses on stock and bond valuation, return predictability, bubbles and crashes, and the relation between asset prices and government policies.
Book Synopsis Stochastic Filtering With Applications In Finance by : Ramaprasad Bhar
Download or read book Stochastic Filtering With Applications In Finance written by Ramaprasad Bhar and published by World Scientific. This book was released on 2010-08-19 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive account of stochastic filtering as a modeling tool in finance and economics. It aims to present this very important tool with a view to making it more popular among researchers in the disciplines of finance and economics. It is not intended to give a complete mathematical treatment of different stochastic filtering approaches, but rather to describe them in simple terms and illustrate their application with real historical data for problems normally encountered in these disciplines. Beyond laying out the steps to be implemented, the steps are demonstrated in the context of different market segments. Although no prior knowledge in this area is required, the reader is expected to have knowledge of probability theory as well as a general mathematical aptitude.Its simple presentation of complex algorithms required to solve modeling problems in increasingly sophisticated financial markets makes this book particularly valuable as a reference for graduate students and researchers interested in the field. Furthermore, it analyses the model estimation results in the context of the market and contrasts these with contemporary research publications. It is also suitable for use as a text for graduate level courses on stochastic modeling.
Book Synopsis The Chinese Puzzle by : Mike Falkenstine
Download or read book The Chinese Puzzle written by Mike Falkenstine and published by China Resource Center Press. This book was released on 2012-05 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: With fresh statistics and two new chapters, author Mike Falkenstine is proud to present the second edition of his book, The Chinese Puzzle. Falkenstine has felt a direct leading to help you understand China and her Church. There is much confusion. Does persecution exist? Can Christians in China worship freely? As a Westerner, how may I most effectively pray for and engage in China? Many people are confused by these questions and issues. China is like a huge puzzle, with many pieces and moving parts; it''s hard to identify all that is happening today in China. China is experiencing some monumental, head-spinning changes, and even the most discerning China analyst may find it daunting to keep up. Information flows from multiple sources, and much of it seems contradictory; this doesn''t facilitate our understanding of China and her church. There are also some in the West who pose as ''China Experts,'' even though they haven''t been to China in many years, they don''t speak the Chinese language, and they are therefore functioning with old paradigms which foster old stereotypes of China. In writing this book, Falkenstine hopes to give you many more pieces to the puzzle that may deepen your understanding of China and thereby Christianity in China. With many more pieces to the puzzle, he believes you will be able to pray more effectively for China, engage with what God is doing there, and see China from a much more balanced perspective. As we finish the first decade of the 21st century, the situation in China is ripe for increased Western engagement based on mutual understanding, and he hopes this book serves as a catalyst to strengthen and deepen that understanding. Chapter one presents a history of Christianity in China and the missionary past. We can learn many valuable lessons as we look at the missionary effort in 19th century China. In 1905, novelist George Santayana wrote, "Those who cannot remember the past are doomed to repeat it." The history of Chinese ministry has great relevance as we engage in China today. This chapter is virtually unchanged from the first edition, since events in the 19th century aren''t going to change much! Chapter two looks at the current trends that are changing China, from the inside out. These changes and developments are important for our understanding of China. This may be a surprising chapter, as you learn some of the groundbreaking efforts taking place, including the rapidly emerging Christian book publishing efforts that he details for the first time in the second edition. As you may know, the Chinese people have different social and moral standards than we have in the West. In Chapter three, we will examine these differences. If we want to understand China, we need to recognize their relational differences and social standards. Chapter three also investigates the Chinese view on legality and the Rule of Law. Chapter four examines what he calls the ''Persecution Myth'': the false belief that Christians in China continue to suffer massive persecution for their faith in Christ. Persecution does not happen as much as we may think, and we must change our paradigm. Westerners who live in China and work with the Chinese church know that persecution is no longer the headlining story. We will look at the reasons the myth continues to persist and the organizations who don''t want the myth to die. Chapter five was born out of the intense coverage some Western ministries and Christian media have been giving to one of Beijing''s over 3000 unregistered ''house'' churches. In travelling regularly to Beijing, he was hearing that most of Beijing''s Unregistered Churches were operating without interference with the Beijing government officials. What I found will quite possibly change your opinion of not only Beijing''s Unregistered Churches, but also Unregistered Churches nationwide. For anyone who wants to become actively involved in God''s work in China, Chapter six can become your guidebook for involvement. You can read about new opportunities to work transparently, a new ''industry standard'' of engagement, and a practical guide for getting started in China. Chapter seven will educate you on China''s Ethnic Minorities. What he found out what not only fascinating, but also has broadened my understanding of the overall work that God is doing in China and the obstacles that lie before us as we desire to impact China for Christ. One of the other keys to our understanding of modern-day China is being able to see China and life through the eyes of the Chinese themselves. Through his work with the China Resource Center, he talks to many Americans about China. Through these countless conversations, he can see the inaccuracies in people''s thoughts and perceptions about the lives of today''s Chinese. By painting with broad strokes, Chapter eight will clarify the overall picture of how the Chinese view their government, life and democracy. In Chapter nine, Falkenstine uses his twenty years of China service to give an overview of his work in China and an introduction to the work of the China Resource Center, including a great new project that they''ve engaged in since the first edition of this book. In Appendix A, you''ll find the complete text of the Ethical Foundations for China Service, created by a number of China ministry leaders at Fuller Seminary in June 2006. This document provides a standard of best practices in China, both for China-interested organizations and individuals. We hope that you may take the Foundations into your own organization, and use it as a discussion starter and a point of dialogue about most effective practices in China. It has proved to be an invaluable tool for many organizations and he''d recommend it to anyone or any organization just starting out in China.
Download or read book Amazing Cows written by Sandra Boynton and published by Workman Publishing. This book was released on 2010-11-18 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Sandra Boynton—as it could only come from Boynton—an inventive exuberant jumble of a book for the young reader. Amazing Cows is a picture book, a storybook, a book of fun and games—it’s all those things in one. Plus it even includes a startling recording of Maurice Ravel’s “Bolero Completely Unraveled for Orchestra and Kazoos” performed by Sandra Boynton & The Highly Irritating Orchestra, for download. (Running time is 17:14, but seems MUCH longer.) A work of pure obsession, Amazing Cows celebrates cows and offbeat cowness with a miscellany of cow stories, cow poems, cow jokes, and other bovine ephemera. Along the way, expect lively guest appearances by ducks, pigs, and excessive numbers of chickens. There’s a song: "It Had to Be Moo." A game: "Find the Hidden Cows." Famous Barnyard Composers (surely you’ve heard of Wolfgang Amadeus Moozart and Johann Sebastian Bockbockbock). Knock-knock jokes, a cow myth, and an Amazing Cow comic-book adventure: "Trouble on Zebblor 7." Cow fashion. Cow Limericks. How to Speak Cow. Plus so much mooer. Amazing Cows is full-color, 96 pages long, and packed with the kind of silly fun that young readers adore, especially when they can read it to themselves—and then read it to their parents, and then to their little brothers, and then to the family dog. Or the family cow.
Book Synopsis Controversies in Economics and Finance by : Imad A. Moosa
Download or read book Controversies in Economics and Finance written by Imad A. Moosa and published by Edward Elgar Publishing. This book was released on 2020-11-27 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this fascinating book, Imad A. Moosa challenges existing preconceptions surrounding normative economics, arguing that what some economists see as undisputed facts of life may be myths caused by dogmatic thinking. Plausible explanations are suggested for puzzles in various areas of economics and finance, such as the home bias puzzle, the PPP puzzle and the presidential puzzle. Controversies in Economics and Finance is a thought-provoking and stimulating read that exposes common flaws in economic analysis. It will be of great benefit to academics, graduate students and policy-makers looking to understand the limits of economic analysis.
Book Synopsis The Loneliest Americans by : Jay Caspian Kang
Download or read book The Loneliest Americans written by Jay Caspian Kang and published by Crown. This book was released on 2022-10-11 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: A “provocative and sweeping” (Time) blend of family history and original reportage that explores—and reimagines—Asian American identity in a Black and white world “[Kang’s] exploration of class and identity among Asian Americans will be talked about for years to come.”—Jennifer Szalai, The New York Times Book Review (Editors’ Choice) ONE OF THE BEST BOOKS OF THE YEAR: Time, NPR, Mother Jones In 1965, a new immigration law lifted a century of restrictions against Asian immigrants to the United States. Nobody, including the lawmakers who passed the bill, expected it to transform the country’s demographics. But over the next four decades, millions arrived, including Jay Caspian Kang’s parents, grandparents, aunts, and uncles. They came with almost no understanding of their new home, much less the history of “Asian America” that was supposed to define them. The Loneliest Americans is the unforgettable story of Kang and his family as they move from a housing project in Cambridge to an idyllic college town in the South and eventually to the West Coast. Their story unfolds against the backdrop of a rapidly expanding Asian America, as millions more immigrants, many of them working-class or undocumented, stream into the country. At the same time, upwardly mobile urban professionals have struggled to reconcile their parents’ assimilationist goals with membership in a multicultural elite—all while trying to carve out a new kind of belonging for their own children, who are neither white nor truly “people of color.” Kang recognizes this existential loneliness in himself and in other Asian Americans who try to locate themselves in the country’s racial binary. There are the businessmen turning Flushing into a center of immigrant wealth; the casualties of the Los Angeles riots; the impoverished parents in New York City who believe that admission to the city’s exam schools is the only way out; the men’s right’s activists on Reddit ranting about intermarriage; and the handful of protesters who show up at Black Lives Matter rallies holding “Yellow Peril Supports Black Power” signs. Kang’s exquisitely crafted book brings these lonely parallel climbers together and calls for a new immigrant solidarity—one rooted not in bubble tea and elite college admissions but in the struggles of refugees and the working class.
Book Synopsis Advances in Active Portfolio Management: New Developments in Quantitative Investing by : Richard C. Grinold
Download or read book Advances in Active Portfolio Management: New Developments in Quantitative Investing written by Richard C. Grinold and published by McGraw Hill Professional. This book was released on 2019-09-13 with total page 666 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the leading authorities in their field—the newest, most effective tools for avoiding common pitfalls while maximizing profits through active portfolio management Whether you’re a portfolio manager, financial adviser, or investing novice, this important follow-up to the classic guide to active portfolio management delivers everything you need to beat the market at every turn. Advances in Active Portfolio Management gets you fully up to date on the issues, trends, and challenges in the world of active management—and shows how to apply advances in the Grinold and Kahn’s legendary approach to meet current challenges. Composed of articles published in today’s leading management publications—including several that won Journal of Portfolio Management’s prestigious Bernstein Fabozzi/Jacobs Levy Award—this comprehensive guide is filled with new insights into: • Dynamic Portfolio Management • Signal Weighting • Implementation Efficiency • Holdings-based attribution • Expected returns • Risk management • Portfolio construction • Fees Providing everything you need to master active portfolio management in today’s investing landscape, the book is organized into three sections: the fundamentals of successful active management, advancing the authors’ framework, and applying the framework in today’s investing landscape. The culmination of many decades of investing experience and research, Advances in Active Portfolio Managementmakes complex issues easy to understand and put into practice. It’s the one-stop resource you need to succeed in the world of investing today.
Book Synopsis Managing Elevated Risk by : Iwan J. Azis
Download or read book Managing Elevated Risk written by Iwan J. Azis and published by Springer. This book was released on 2014-12-11 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the risks and opportunities that arise in Emerging Asia given the context of a new environment in global liquidity and capital flows. It elaborates on the need to ensure financial and overall economic stability in the region through improved financial regulation and other policy measures to minimize the emergent risks. "Managing Elevated Risk: Global Liquidity, Capital Flows, and Macroprudential Policy—An Asian Perspective" also explores the range of policy options that may be deployed to address the impact of global liquidity on domestic financial and socio-economic conditions including income inequality. The book is primarily aimed at policy makers, financial market regulators and supervisory agencies to help them improve national regulatory systems and to promote harmonization of national regulations and practices in line with global standards. Scholars and researchers will also gain important information and knowledge about the overall impacts of changing global liquidity from the book.
Book Synopsis Monetary Policy and the Onset of the Great Depression by : M. Toma
Download or read book Monetary Policy and the Onset of the Great Depression written by M. Toma and published by Springer. This book was released on 2013-12-18 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary Policy and the Onset of the Great Depression challenges Milton Friedman and Anna Schwartz's now consensus view that the high tide of the Federal Reserve System in the 1920s was due to the leadership skills of Benjamin Strong, head of the Federal Reserve Bank of New York.
Download or read book Sophie's World written by Jostein Gaarder and published by Farrar, Straus and Giroux. This book was released on 2007-03-20 with total page 735 pages. Available in PDF, EPUB and Kindle. Book excerpt: A page-turning novel that is also an exploration of the great philosophical concepts of Western thought, Jostein Gaarder's Sophie's World has fired the imagination of readers all over the world, with more than twenty million copies in print. One day fourteen-year-old Sophie Amundsen comes home from school to find in her mailbox two notes, with one question on each: "Who are you?" and "Where does the world come from?" From that irresistible beginning, Sophie becomes obsessed with questions that take her far beyond what she knows of her Norwegian village. Through those letters, she enrolls in a kind of correspondence course, covering Socrates to Sartre, with a mysterious philosopher, while receiving letters addressed to another girl. Who is Hilde? And why does her mail keep turning up? To unravel this riddle, Sophie must use the philosophy she is learning—but the truth turns out to be far more complicated than she could have imagined.
Author :National Academies of Sciences, Engineering, and Medicine Publisher :National Academies Press ISBN 13 :0309452961 Total Pages :583 pages Book Rating :4.3/5 (94 download)
Book Synopsis Communities in Action by : National Academies of Sciences, Engineering, and Medicine
Download or read book Communities in Action written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-04-27 with total page 583 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States, some populations suffer from far greater disparities in health than others. Those disparities are caused not only by fundamental differences in health status across segments of the population, but also because of inequities in factors that impact health status, so-called determinants of health. Only part of an individual's health status depends on his or her behavior and choice; community-wide problems like poverty, unemployment, poor education, inadequate housing, poor public transportation, interpersonal violence, and decaying neighborhoods also contribute to health inequities, as well as the historic and ongoing interplay of structures, policies, and norms that shape lives. When these factors are not optimal in a community, it does not mean they are intractable: such inequities can be mitigated by social policies that can shape health in powerful ways. Communities in Action: Pathways to Health Equity seeks to delineate the causes of and the solutions to health inequities in the United States. This report focuses on what communities can do to promote health equity, what actions are needed by the many and varied stakeholders that are part of communities or support them, as well as the root causes and structural barriers that need to be overcome.
Download or read book Piecing the Puzzle written by Larry Krotz and published by Univ. of Manitoba Press. This book was released on 2012-06-08 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1979, Dr. Allan Ronald, a specialist in infectious diseases from Canada, and Dr. Herbert Nsanze, head of medical microbiology at University of Nairobi, met through the World Health Organization. Ronald had just completed a successful project that cured a chancroid (genital ulcer) epidemic in Winnipeg and Nsanze asked him to come to Kenya to help with Kenya’s “sexual diseases problem.” That initial invitation led to a groundbreaking international scientific collaboration that would uncover critical pieces in the complex puzzle that became today’s HIV/AIDS pandemic. In Piecing the Puzzle, journalist and documentary filmmaker Larry Krotz chronicles the fascinating history of the pioneering Kenyan, Canadian, Belgian, and American research team that uncovered HIV/AIDS in Kenya, their scientific breakthroughs and setbacks, and their exceptional thirty-year relationship that began a new era of global health collaboration.
Book Synopsis The Marriage of Cadmus and Harmony by : Roberto Calasso
Download or read book The Marriage of Cadmus and Harmony written by Roberto Calasso and published by Penguin UK. This book was released on 2019-07-25 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'It will be read and re-read not as a treatise but as a story: one of the most extraordinary that has ever been written of the origins of Western self-consciousness' Simon Schama The marriage of Cadmus and Harmony was the last time the gods of Olympus feasted alongside mortals. What happened in the distant ages preceding it, and in the generations that followed, form the timeless tales of ancient Greek mythology. In this masterful retelling of the myths we think we know, Roberto Calasso illuminates the deepest questions of our existence. 'The kind of book one comes across only once or twice in one's lifetime' Joseph Brodsky 'A perfect work like no other' Gore Vidal
Book Synopsis The Myth of the Nuclear Revolution by : Keir A. Lieber
Download or read book The Myth of the Nuclear Revolution written by Keir A. Lieber and published by Cornell University Press. This book was released on 2020-06-15 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading analysts have predicted for decades that nuclear weapons would help pacify international politics. The core notion is that countries protected by these fearsome weapons can stop competing so intensely with their adversaries: they can end their arms races, scale back their alliances, and stop jockeying for strategic territory. But rarely have theory and practice been so opposed. Why do international relations in the nuclear age remain so competitive? Indeed, why are today's major geopolitical rivalries intensifying? In The Myth of the Nuclear Revolution, Keir A. Lieber and Daryl G. Press tackle the central puzzle of the nuclear age: the persistence of intense geopolitical competition in the shadow of nuclear weapons. They explain why the Cold War superpowers raced so feverishly against each other; why the creation of "mutual assured destruction" does not ensure peace; and why the rapid technological changes of the 21st century will weaken deterrence in critical hotspots around the world. By explaining how the nuclear revolution falls short, Lieber and Press discover answers to the most pressing questions about deterrence in the coming decades: how much capability is required for a reliable nuclear deterrent, how conventional conflicts may become nuclear wars, and how great care is required now to prevent new technology from ushering in an age of nuclear instability.
