Download or read book Collected Papers on Monetary Theory written by Robert E. Lucas Jr. and published by Harvard University Press. This book was released on 2013-01-07 with total page 517 pages. Available in PDF, EPUB and Kindle. Book excerpt: Robert Lucas is one of the outstanding monetary theorists of the past hundred years. Along with Knut Wicksell, Irving Fisher, John Maynard Keynes, James Tobin, and Milton Friedman (his teacher), Lucas revolutionized our understanding of how money interacts with the real economy of production, consumption, and exchange. Lucas’s contributions are both methodological and substantive. Methodologically, he developed dynamic, stochastic, general equilibrium models to analyze economic decision-makers operating through time in a complex, probabilistic environment. Substantively, he incorporated the quantity theory of money into these models and derived its implications for money growth, inflation, and interest rates in the long run. He also showed the different effects of anticipated and unanticipated changes in the stock of money on economic fluctuations, and helped to demonstrate that there was not a long-run trade-off between unemployment and inflation (the Phillips curve) that policy-makers could exploit. The twenty-one papers collected in this volume fall primarily into three categories: core monetary theory and public finance, asset pricing, and the real effects of monetary instability. Published between 1972 and 2007, they will inspire students and researchers who want to study the work of a master of economic modeling and to advance economics as a pure and applied science.
Download or read book Computational Methods in Decision Making Economics and Finance written by Erricos John Kontoghiorghes and published by Springer Science & Business Media. This book was released on 2013-11-11 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt: Computing has become essential for the modeling, analysis, and optimization of systems. This book is devoted to algorithms, computational analysis, and decision models. The chapters are organized in two parts: optimization models of decisions and models of pricing and equilibria.
Download or read book Computational Approaches to Economic Problems written by Hans M. Amman and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume contains a selection of papers presented at the first conference of the Society for Computational Economics held at ICC Institute, Austin, Texas, May 21-24, 1995. Twenty-two papers are included in this volume, devoted to applications of computational methods for the empirical analysis of economic and financial systems; the development of computing methodology, including software, related to economics and finance; and the overall impact of developments in computing. The various contributions represented in the volume indicate the growing interest in the topic due to the increased availability of computational concepts and tools and the necessity of analyzing complex decision problems. The papers in this volume are divided into four sections: Computational methods in econometrics, Computational methods in finance, Computational methods for a social environment and New computational methods.£/LIST£
Download or read book The New Palgrave Dictionary of Money and Finance written by John Eatwell and published by Springer. This book was released on 1992-10-14 with total page 869 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first reference work ever to be awarded the Eccles Prize for Excellence in Economic Writing from Columbia Business School. Continuing in the tradition of The New Palgrave , this 3-volume set provides an unparalleled guide to modern money, banking and finance. In over 1,000 substantial essays by leading academic and professional authorities, it provides the most comprehensive analysis available of contemporary theory and the fast-evolving global monetary and financial framework. In its scope and depth of coverage, it is indispensable for the academic and practitioner alike.
Download or read book Journal of Economic Dynamics Control written by and published by . This book was released on 2002 with total page 1206 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book NBER Reporter written by National Bureau of Economic Research and published by . This book was released on 1985 with total page 816 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in Mathematical Economics and Economic Theory written by Jenny Xiaoe Li and published by . This book was released on 1993 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On the Nature and Estimation of Age Period and Cohort Effects in Demographic Data written by David E. Bloom and published by . This book was released on 1985 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a general procedure for estimating age, period, and cohort effects in demographic data. The procedure involves structuring, mathematically, the effect of cross-cohort changes in the timing and level of a vital event on period rates of occurrence of the event. The procedureis illustrated and tested in an application to data on the first birth rates of American women. Overall, the empirical results provide support for the procedure. The results also provide evidence that period effects are highly age-specific and that the size of cohort effects may be substantially overestimated by models which fail to allow for the age specificity of period effects.
Download or read book The Changing Behavior of the Term Structure of Interest Rates written by N. Gregory Mankiw and published by . This book was released on 1985 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: We reexamine the expectations theory of the term structure using data at the short end of the maturity spectrum. We find that prior to the founding ofthe Federal Reserve System in 1915, the spread between long rates and short rates has substantial predictive power for the path of interest rates; after 1915, however, the spread contains much less predictive power. We then show that the short rate is approximately a random walk after the founding of the Fed but not before. This latter fact, coupled with even slight variation inthe term premium, can explain the observed change in 1915 in the performance of the expectations theory. We suggest that the random walk character of the short rate may be attributable to the Federal Reserve's commitment to stabilizing interest rates.
Download or read book Report AM written by and published by . This book was released on 1993 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Working Paper Series written by and published by . This book was released on 2002 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Money Interest Rates and Exchange Rates with Endogenously Segmented Asset Markets written by Fernando Alvarez and published by . This book was released on 2000 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the effects of money injections on interest rates and exchange rates in a model in which agents must pay a Baumol-Tobin style fixed cost to exchange bonds and money. Asset markets are endogenously segmented because this fixed cost leads agents to trade bonds and money only infrequently. When the government injects money through an open market operation, only those agents that are currently trading absorb these injections. Through their impact on these agents' consumption, these money injections affect real interest rates and real exchange rates. We show that the model generates the observed negative relation between expected inflation and real interest rates. With moderate amounts of segmentation, the model also generates other observed features of the data: persistent liquidity effects in interest rates and volatile and persistent exchange rates. A standard model with no fixed costs can produce none of these features.
Download or read book Fundamentals and Advanced Techniques in Derivatives Hedging written by Bruno Bouchard and published by Springer. This book was released on 2016-06-23 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers the theory of derivatives pricing and hedging as well as techniques used in mathematical finance. The authors use a top-down approach, starting with fundamentals before moving to applications, and present theoretical developments alongside various exercises, providing many examples of practical interest.A large spectrum of concepts and mathematical tools that are usually found in separate monographs are presented here. In addition to the no-arbitrage theory in full generality, this book also explores models and practical hedging and pricing issues. Fundamentals and Advanced Techniques in Derivatives Hedging further introduces advanced methods in probability and analysis, including Malliavin calculus and the theory of viscosity solutions, as well as the recent theory of stochastic targets and its use in risk management, making it the first textbook covering this topic. Graduate students in applied mathematics with an understanding of probability theory and stochastic calculus will find this book useful to gain a deeper understanding of fundamental concepts and methods in mathematical finance.
Download or read book Bargaining Unit Union Industry and Locational Correlates of Union Support in Certification and Decertification Elections written by William T. Dickens and published by . This book was released on 1985 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Are Devaluations Contractionary written by Sebastian Edwards and published by . This book was released on 1985 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently a number of authors have criticized the role of devaluations in traditional stabilization programs. It has been argued that, contrary to the traditional view, devaluations are contractionary, and generate a decline in aggregate output. In spite of the renewed theoretical interest in the possible contractionary effects of devaluations, the empirical evidence on the subject has been quite sketchy. In this paper the Khan and Knight (1981)model is extended to empirically address the issue of contractionary devaluations. The extended model considers the effect of money surprises, fiscal factors, terms of trade changes and devaluations on the level of real output. The results obtained, using a variance components procedure on data for 12 developing countries, provide some support to the short-run contractionary devaluation hypothesis; the results obtained indicate that in the short-run a devaluation will generate a decline in aggregate output. It is also found that after one year a devaluation will have an expansionary effecton output. The evidence suggests that in the long run, devaluations will have no effect on output.
Download or read book Transparency Market written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-01-22 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Transparency Market In economics, a market is transparent if much is known by many about: What products and services or capital assets are available, market depth, what price, and where. Transparency is important since it is one of the theoretical conditions required for a free market to be efficient. Price transparency can, however, lead to higher prices. For example, if it makes sellers reluctant to give steep discounts to certain buyers, or if it facilitates collusion, and price volatility is another concern. A high degree of market transparency can result in disintermediation due to the buyer's increased knowledge of supply pricing. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Transparency (market) Chapter 2: Derivative (finance) Chapter 3: Finance Chapter 4: Stock market Chapter 5: Speculation Chapter 6: Hedge (finance) Chapter 7: Contract for difference Chapter 8: Stock trader Chapter 9: Sanford J. Grossman Chapter 10: Market sentiment Chapter 11: Foreign exchange fraud Chapter 12: Market analysis Chapter 13: Portfolio manager Chapter 14: Electronic trading platform Chapter 15: Cryptocurrency Chapter 16: Art market Chapter 17: Digital Currency Group Chapter 18: Factor investing Chapter 19: Diamond Standard Chapter 20: Decentralized finance Chapter 21: Carbon quantitative easing (II) Answering the public top questions about transparency market. (III) Real world examples for the usage of transparency market in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Transparency Market.
Download or read book Handbook of Exchange Rates written by Jessica James and published by John Wiley & Sons. This book was released on 2012-05-29 with total page 674 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for Handbook of Exchange Rates “This book is remarkable. I expect it to become the anchor reference for people working in the foreign exchange field.” —Richard K. Lyons, Dean and Professor of Finance, Haas School of Business, University of California Berkeley “It is quite easily the most wide ranging treaty of expertise on the forex market I have ever come across. I will be keeping a copy close to my fingertips.” —Jim O’Neill, Chairman, Goldman Sachs Asset Management How should we evaluate the forecasting power of models? What are appropriate loss functions for major market participants? Is the exchange rate the only means of adjustment? Handbook of Exchange Rates answers these questions and many more, equipping readers with the relevant concepts and policies for working in today’s international economic climate. Featuring contributions written by leading specialists from the global financial arena, this handbook provides a collection of original ideas on foreign exchange (FX) rates in four succinct sections: • Overview introduces the history of the FX market and exchange rate regimes, discussing key instruments in the trading environment as well as macro and micro approaches to FX determination. • Exchange Rate Models and Methods focuses on forecasting exchange rates, featuring methodological contributions on the statistical methods for evaluating forecast performance, parity relationships, fair value models, and flow–based models. • FX Markets and Products outlines active currency management, currency hedging, hedge accounting; high frequency and algorithmic trading in FX; and FX strategy-based products. • FX Markets and Policy explores the current policies in place in global markets and presents a framework for analyzing financial crises. Throughout the book, topics are explored in-depth alongside their founding principles. Each chapter uses real-world examples from the financial industry and concludes with a summary that outlines key points and concepts. Handbook of Exchange Rates is an essential reference for fund managers and investors as well as practitioners and researchers working in finance, banking, business, and econometrics. The book also serves as a valuable supplement for courses on economics, business, and international finance at the upper-undergraduate and graduate levels.
