Asset Pricing for Dynamic Economies

ISBN-10: 0521699142
ISBN-13: 9780521699143
Edition: 2008
List price: $82.00 Buy it from $41.38
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Description: This introduction to general equilibrium modelling takes an integrated approach to the analysis of macroeconomics and finance. It provides students, practitioners, and policymakers with an easily accessible set of tools that can be used to analyze a  More...

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Book details

List price: $82.00
Copyright year: 2008
Publisher: Cambridge University Press
Publication date: 9/11/2008
Binding: Paperback
Pages: 600
Size: 6.75" wide x 9.50" long x 1.50" tall
Weight: 2.596
Language: English

This introduction to general equilibrium modelling takes an integrated approach to the analysis of macroeconomics and finance. It provides students, practitioners, and policymakers with an easily accessible set of tools that can be used to analyze a wide range of economic phenomena. Key features: Provides a consistent framework for understanding dynamic economic models Introduces key concepts in finance in a discrete time setting Develops simple recursive approach for analyzing a variety of problems in a dynamic, stochastic environment Sequentially builds up the analysis of consumption, production, and investment models to study their implications for allocations and asset prices Reviews business cycle analysis and the business cycle implications of monetary and international models Covers latest research on asset pricing in overlapping generations models and on models with borrowing constraints and transaction costs Includes end-of-chapter exercises allowing readers to monitor their understanding of each topic Online resources are available at www.cambridge.org/altug_labadie

Sumru Altug is Professor of Economics at Ko� University, Istanbul, and Research Fellow on the International Macroeconomics Programme at the Centre for Economic Policy Research (CEPR), London.

Pamela Labadie is Professor of Economics at George Washington University, Washington DC.

List of figures
List of tables
Preface
Basic Concepts
Complete contingent claims
Arbitrage and asset valuation
Expected utility
CAPM and APT
Consumption and saving
Recursive Models
Dynamic programming
Intertemporal risk sharing
Consumption and asset pricing
Nonseparable preferences
Economies with production
Investment
Business cycles
Monetary and International Models
Models with money
International models
Models with Market Incompleteness
Asset pricing with frictions
Borrowing constraints
Overlapping generations models
Supplementary Material
A. Mathematical appendix
References
Index

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