Financial Structure and Economic Growth
Author: Aslı Demirgüç-Kunt
Publisher: MIT Press
Published: 2001
Total Pages: 452
ISBN-13: 9780262541794
DOWNLOAD EBOOKCD-ROM contains: World Bank data.
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Credit Risk
Author: Darrell Duffie
Publisher: Princeton University Press
Published: 2012-01-12
Total Pages: 415
ISBN-13: 1400829178
DOWNLOAD EBOOKIn this book, two of America's leading economists provide the first integrated treatment of the conceptual, practical, and empirical foundations for credit risk pricing and risk measurement. Masterfully applying theory to practice, Darrell Duffie and Kenneth Singleton model credit risk for the purpose of measuring portfolio risk and pricing defaultable bonds, credit derivatives, and other securities exposed to credit risk. The methodological rigor, scope, and sophistication of their state-of-the-art account is unparalleled, and its singularly in-depth treatment of pricing and credit derivatives further illuminates a problem that has drawn much attention in an era when financial institutions the world over are revising their credit management strategies. Duffie and Singleton offer critical assessments of alternative approaches to credit-risk modeling, while highlighting the strengths and weaknesses of current practice. Their approach blends in-depth discussions of the conceptual foundations of modeling with extensive analyses of the empirical properties of such credit-related time series as default probabilities, recoveries, ratings transitions, and yield spreads. Both the "structura" and "reduced-form" approaches to pricing defaultable securities are presented, and their comparative fits to historical data are assessed. The authors also provide a comprehensive treatment of the pricing of credit derivatives, including credit swaps, collateralized debt obligations, credit guarantees, lines of credit, and spread options. Not least, they describe certain enhancements to current pricing and management practices that, they argue, will better position financial institutions for future changes in the financial markets. Credit Risk is an indispensable resource for risk managers, traders or regulators dealing with financial products with a significant credit risk component, as well as for academic researchers and students.
The Debt/equity Choice
Author: Ronald W. Masulis
Publisher:
Published: 1988
Total Pages: 168
ISBN-13:
DOWNLOAD EBOOKCorporate Capital Structures in the United States
Author: Benjamin M. Friedman
Publisher: University of Chicago Press
Published: 2009-05-15
Total Pages: 404
ISBN-13: 0226264238
DOWNLOAD EBOOKThe research reported in this volume represents the second stage of a wide-ranging National Bureau of Economic Research effort to investigate "The Changing Role of Debt and Equity in Financing U.S. Capital Formation." The first group of studies sponsored under this project, which have been published individually and summarized in a 1982 volume bearing the same title (Friedman 1982), addressed several key issues relevant to corporate sector behavior along with such other aspects of the evolving financial underpinnings of U.S. capital formation as household saving incentives, international capital flows, and government debt management. In the project's second series of studies, presented at the National Bureau of Economic Research conference in January 1983 and published here for the first time along with commentaries from that conference, the central focus is the financial side of capital formation undertaken by the U.S. corporate business sector. At the same time, because corporations' securities must be held, a parallel focus is on the behavior of the markets that price these claims.
Empirical Capital Structure
Author: Christopher Parsons
Publisher: Now Publishers Inc
Published: 2009
Total Pages: 107
ISBN-13: 160198202X
DOWNLOAD EBOOKEmpirical Capital Structure reviews the empirical capital structure literature from both the cross-sectional determinants of capital structure as well as time-series changes.
The Economics of Imperfect Markets
Author: Giorgio Calcagnini
Publisher: Springer Science & Business Media
Published: 2009-10-22
Total Pages: 237
ISBN-13: 3790821314
DOWNLOAD EBOOKThis book is a collection of eleven papers concerned with the effects of market imperfections on the decision-making of economic agents and on economic policies that try to correct the inefficient market outcomes due to those imperfections. As a consequence, real and financial imperfections are related : economic decisions are simultaneously affected by imperfections present both in real and financial markets. Notwithstanding the obvious fact that market interdependence is not novel, scholar interests are typically concentrated on the specific relationship among economic decisions originating from particular imperfections. This explains why, in the case of perfect financial markets, we can speak of "the" us.
Capital in the American Economy
Author: Simon Smith Kuznets
Publisher: Princeton University Press
Published: 2015-12-08
Total Pages: 694
ISBN-13: 1400879728
DOWNLOAD EBOOKAn examination of long-term trends in capital formation and financing in the U.S., this study is organized primarily around the principal capital-using sectors of the economy: agriculture, mining and manufacturing, public utilities, non-farm residential real estate, and government. The analysis summarizes major trends in real capital formation and financing, and the factors that determined the trends. Originally published in 1961. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Time and Money
Author: Roger W Garrison
Publisher: Routledge
Published: 2000-10-19
Total Pages: 289
ISBN-13: 1134895909
DOWNLOAD EBOOKTime and Money argues persuasively that the troubles which characterise modern capital-intensive economies, particularly the episodes of boom and bust, may best be analysed with the aid of a capital-based macroeconomics. The primary focus of this text is the intertemporal structure of capital, an area that until now has been neglected in favour of labour and money-based macroeconomics.
Corporations in Evolving Diversity
Author: Masahiko Aoki
Publisher: Oxford University Press
Published: 2010-05-06
Total Pages: 227
ISBN-13: 0199218536
DOWNLOAD EBOOKThe 2008-9 financial crisis demands we look anew at the role of corporations, and the working of financial markets around the world. In this book, Masahiko Aoki provides a compelling new analysis of the corporate firm; the role of shareholders, managers and workers; and institutional governance structures.
Capital and Credit
Author: Michio Morishima
Publisher: Cambridge University Press
Published: 1994-03-25
Total Pages: 228
ISBN-13: 9780521466387
DOWNLOAD EBOOKContemporary general equilibrium theory is characteristically short-run, separated from monetary aspects of the economy, and as such does not deal with long-run problems such as capital accumulation, innovation, and the historical movement of the economy. These phenomena are discussed by growth theory, which assumes a given or shifting production function, and in turn cannot therefore deal with the fundamental problem of growth, namely how the production function is derived. Thus traditional theories have a common weakness in that they divorce real economic growth from the activities of the financial sector. This book provides a much-needed synthesis of growth theory and monetary theory. Professor Morishima draws on the work of Schumpeter, Keynes and the pre-war neoclassical economists to formulate a capital-theoretic general equilibrium theory.
