| Description |
xiii, 361 pages : illustrations ; 24 cm |
| Contents |
What This Book Is About -- Financial Markets and Financial Instruments Defined -- Basic Concepts of Accounting -- The Balance Sheet -- The Cash Flow Statement -- The Income Statement -- The Place of Financial Markets in the Economy -- Real Assets and Financial Claims -- Balance Sheets for the U.S. Economy -- The International Investment Position of the United States -- The Distribution of Financial Assets -- A Framework for Macroeconomic Analysis of Flows -- The National Accounts -- The Flow of Funds Accounts -- The Relation between Stocks and Flows -- International Transactions -- Exchange Rates -- The Rate of Interest -- The Rate of Interest in a Barter Economy -- Government Borrowing -- Introducing Money: Nominal and Real Interest Rates -- Monetary and Fiscal Policy -- The Supply of Money -- The Demand for Money -- The Objectives of Monetary Policy -- Fiscal Policy and the Government Budget -- The Supply of Securities -- General Characteristics of Securities -- The Supply of Government Securities -- Federal Government Obligations -- Municipal Bonds -- Bonds of Foreign Governments and International Organizations -- Index-Linked Bonds -- Corporate Financial Policy -- Empirical Evidence -- The Supply of Corporate Securities -- Corporate Equities -- Corporate Takeovers -- Corporate Bonds -- Junk Bonds -- Convertible Securities -- Partnership Units and Business Taxation -- Mutual Fund Shares -- Money Market Funds -- Mortgages and Mortgage-Backed Securities -- Claims on Financial Institutions -- The Demand for Securities |
| Summary |
Instead, the authors' task is to make the reader better informed about both the patterns and paradoxes that underlie the twists and turns of financial markets and help turn the jargon of these unique markets from a barrier into a tool |
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The Economics of Financial Markets is for those who wish to look behind the daily financial headlines and understand what is driving the prices of bonds, stocks, options, futures and other instruments; how financial markets work; how to identify consistent patterns of market behavior; and how the complex jigsaw of institutions, financial intermediaries, trading places, speculators, hedgers, savers and investors fits together. It operates at that rare intersection of theory and practice where the study of intriguing patterns and phenomena can actually uncover profitable opportunities. The authors don't pretend that they have a secret formula or a sure-fire way to pick future winners in the financial race. The world is littered with the gravestones of "get rich quick" strategies. And there are enough books, both good and bad, on investments and investing |
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The Economics of Financial Markets puts economics to work on the daily problems faced by investors, traders, speculators and brokers as they wrestle with increasingly diverse and complex financial markets. Drawing on data direct from the financial behavior of households, corporations, and governments, the authors show how accessible but rigorous economics can help in making sense of the financial markets (including those in equities, bonds, mutual funds, options and futures) and of the ways in which these markets are organized |
| Analysis |
Financial markets |
|
United States |
| Bibliography |
Includes bibliographical references (pages 335-347) and indexes |
| Notes |
Also available online |
| Subject |
Capital market -- United States.
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Capital market.
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Futures market.
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Stock exchanges.
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| Author |
Williamson, Peter J.
|
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Oxford University Press.
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| LC no. |
94003949 |
| ISBN |
019504407X (hc : acid-free paper) |
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