A Simple Account Of The Behavior Of Long Term Interest Rates PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download A Simple Account Of The Behavior Of Long Term Interest Rates PDF full book. Access full book title A Simple Account Of The Behavior Of Long Term Interest Rates.
Author | : John Y. Campbell |
Publisher | : |
Total Pages | : 58 |
Release | : 1983 |
Genre | : Interest rates |
ISBN | : |
Download A Simple Account of the Behavior of Long-term Interest Rates Book in PDF, ePub and Kindle
Recent empirical research on the term structure of interest rates has shown that the long-term interest rate is well described by adistributed lag on short-term interest rates, but does not conform to the expectations theory of the term structure. It has been suggested that the long rate "overreacts" to the short rate. This paper presents aunified taxonomy of risk premia, or deviations from the expectations theory. This enables the hypothesis of overreaction to be formally stated. It is shown that, if anything, the long rate has underreacted to the short rate. However, the independent movement of the long rate is primarily responsible for the failure of the expectations theory.
Author | : Jeffrey C. Fuhrer |
Publisher | : |
Total Pages | : 27 |
Release | : 1993 |
Genre | : Interest rates |
ISBN | : |
Download Monetary Policy and the Behavior of Long-term Real Interest Rates Book in PDF, ePub and Kindle
Author | : Jeffrey C. Fuhrer |
Publisher | : |
Total Pages | : 46 |
Release | : 1993 |
Genre | : Interest rates |
ISBN | : |
Download Monetary Policy and the Behavior of Long-term Interest Rates Book in PDF, ePub and Kindle
Author | : Hersh Shefrin |
Publisher | : Elsevier |
Total Pages | : 636 |
Release | : 2008-05-19 |
Genre | : Business & Economics |
ISBN | : 0080482244 |
Download A Behavioral Approach to Asset Pricing Book in PDF, ePub and Kindle
Behavioral finance is the study of how psychology affects financial decision making and financial markets. It is increasingly becoming the common way of understanding investor behavior and stock market activity. Incorporating the latest research and theory, Shefrin offers both a strong theory and efficient empirical tools that address derivatives, fixed income securities, mean-variance efficient portfolios, and the market portfolio. The book provides a series of examples to illustrate the theory. The second edition continues the tradition of the first edition by being the one and only book to focus completely on how behavioral finance principles affect asset pricing, now with its theory deepened and enriched by a plethora of research since the first edition
Author | : Hans-Hermann Francke |
Publisher | : Duncker & Humblot |
Total Pages | : 456 |
Release | : 2019 |
Genre | : Business & Economics |
ISBN | : 9783428480968 |
Download Konzepte und Erfahrungen der Geldpolitik Book in PDF, ePub and Kindle
Author | : Eugene F. Fama |
Publisher | : University of Chicago Press |
Total Pages | : 826 |
Release | : 2017-09-07 |
Genre | : Business & Economics |
ISBN | : 022642698X |
Download The Fama Portfolio Book in PDF, ePub and Kindle
This collection of the most influential work of the Nobel Prize laureate in economic sciences serves as an introduction for a new generation of readers. Few scholars have been as influential in finance and economics as University of Chicago professor Eugene F. Fama. Over the course of a brilliant and productive career, Fama has published more than one hundred papers, filled with diverse, highly innovative contributions. Published soon after the fiftieth anniversary of Fama’s appointment to the University of Chicago and his receipt of the Nobel Prize in Economics, The Fama Portfolio offers an authoritative compilation of Fama’s central papers. Many are classics, including his now-famous essay on efficient capital markets. Others, though less famous, are even better statements of the central ideas. Fama’s research considers key questions in finance, both as an academic field and an industry: How is information reflected in asset prices? What is the nature of risk that scares people away from larger returns? Does lots of buying and selling by active managers produce value for their clients? The Fama Portfolio provides for the first time a comprehensive collection of his work and includes introductions and commentary by the book’s editors, John H. Cochrane and Tobias Moskowitz, as well as by Fama’s colleagues, themselves top scholars and successful practitioners in finance. These essays emphasize how the ideas presented in Fama’s papers have influenced later thinking in financial economics, often for decades. “Fama’s ideas have influenced a generation of thinkers without most reading the original source material. This comprehensive collection of his work seeks to right that wrong.” —Bloomberg
Author | : Felix Geiger |
Publisher | : Springer Science & Business Media |
Total Pages | : 320 |
Release | : 2011-08-17 |
Genre | : Business & Economics |
ISBN | : 3642215750 |
Download The Yield Curve and Financial Risk Premia Book in PDF, ePub and Kindle
The determinants of yield curve dynamics have been thoroughly discussed in finance models. However, little can be said about the macroeconomic factors behind the movements of short- and long-term interest rates as well as the risk compensation demanded by financial investors. By taking on a macro-finance perspective, the book’s approach explicitly acknowledges the close feedback between monetary policy, the macroeconomy and financial conditions. Both theoretical and empirical models are applied in order to get a profound understanding of the interlinkages between economic activity, the conduct of monetary policy and the underlying macroeconomic factors of bond price movements. Moreover, the book identifies a broad risk-taking channel of monetary transmission which allows a reassessment of the role of financial constraints; it enables policy makers to develop new guidelines for monetary policy and for financial supervision of how to cope with evolving financial imbalances.
Author | : Scott Taylor Jones |
Publisher | : |
Total Pages | : 194 |
Release | : 1973 |
Genre | : Business cycles |
ISBN | : |
Download The Cyclical Behavior of Short- and Long-term Interest Rates and Some Explanations of that Behavior Book in PDF, ePub and Kindle
Author | : Lloyd P Blenman |
Publisher | : World Scientific |
Total Pages | : 445 |
Release | : 2010-06-04 |
Genre | : Business & Economics |
ISBN | : 9814467871 |
Download Banking And Capital Markets: New International Perspectives Book in PDF, ePub and Kindle
This timely collection of papers probes into the major issues that are at the heart of our current financial market crises. The coverage of banking topics include the changing nature of intra and inter-bank markets, bank lending behavior, risk and risk-taking, the role of liquidity, return and maturity transformation issues. Issues on international financial market volatility and spillover effects are analyzed in detail, and intense discussions on capital adequacy and regulation in banking, and the potential role of banks' activities in the triggering of financial crises provide forward-looking insights.This volume will offer readers current and innovative approaches to assessing extant issues in banking and financial markets. In particular, it provides new ideas about the role of corporate governance institutions as signaling devices in exercising regulatory authority and protection of the shareholders' rights. What this volume covers in breadth, it also delves in depth with critical analyses and commentaries on the possible role of bank lending in triggering international crises, value creation in international joint ventures and the pricing of risk in international financial markets.
Author | : Joseph W. Conard |
Publisher | : |
Total Pages | : 168 |
Release | : 1966 |
Genre | : Business & Economics |
ISBN | : |
Download The Behavior of Interest Rates Book in PDF, ePub and Kindle