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Financial Risk: Theory, Evidence and Implications : Proceedings of the Eleventh Annual Economic Policy Conference of the Federal Reserve Bank of St. - Rilegato

 
9780898382433: Financial Risk: Theory, Evidence and Implications : Proceedings of the Eleventh Annual Economic Policy Conference of the Federal Reserve Bank of St.
Rilegato
ISBN 10: 0898382432 ISBN 13: 9780898382433
Casa editrice: Kluwer Academic Pub, 1988

Sinossi

The Federal Reserve Bank held its Eleventh Annual Economic Policy Conference on November 14 and 15, 1986. The topic of the conference was Financial Risk: Theory, Evidence and Implications; this volume contains the papers and discussants' comments that were presented at this conference. As the reader will note, these papers cover the broad aspects of financial risk, from some key general concepts to specific domestic and international financial risk problems. And, of equal importance, they provide some interesting insights into reasons for the continuing turmoil in domestic and international financial markets that we have witnessed in recent years. ix I RISK: A GENERAL OVERVIEW 1 DIFFERENCES OF OPINION IN FINANCIAL MARKETS Hal R. Varian The standard models of financial markets such as the Sharpe-Lintner mean­ variance model or the Rubinstein-Breeden-Litzenberger contingent con­ sumption model both assume more-or-Iess homogenous probability beliefs.! There has been some work on extending the mean-variance model to allow for differences in beliefs across agents; see Jarrow (1980), Lintner (1969), Mayshar (1983), and Williams (1977). Differences in beliefs in contingent commodities models have received much less attention. The major references are Rubinstein (1975, 1976a), Breeden and Litzenberger (1978), Hakansson et al. (1982), and Milgrom and Stokey (1982).

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Contenuti

I Risk: A General Overview.- 1 Differences of Opinion in Financial Markets.- Commentary by V. V. Chari.- 2 Risk, Exchange Market Intervention, and Private Speculative Behavior in a Small Open Economy.- Commentary by Charles I. Plosser.- II Risk: A Domestic Overview.- 3 Risk and the Economy: A Finance Perspective.- Commentary by A mold Zellner.- 4 Management versus Economic Conditions as Contributors to the Recent Increase in Bank Failures.- Commentary by George G. Kaufman.- III Risk: An International Overview.- 5 Empirical Assessment of Foreign Currency Risk Premiums.- Commentary by Maurice Obstfeld.- 6 Country Risk and the Structure of International Financial Intermediation.- Commentary by Thomas D. Willett.

Product Description

Book by None

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Editore
Kluwer Academic Pub
Data di pubblicazione
1988
Lingua
Inglese
ISBN 10 
0898382432
ISBN 13 
9780898382433
Rilegatura
Copertina rigida
Numero di pagine
248
Redattore
Stone Courtenay C.
Contatto del produttore
non disponibile
Persona responsabile
CMN Printpool Inh. Mathis Neumann
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