The Yield Curve and Financial Risk Premia: Implications for Monetary Policy - Lecture Notes in Economics and Mathematical Systems 654 (Paperback)
  • The Yield Curve and Financial Risk Premia: Implications for Monetary Policy - Lecture Notes in Economics and Mathematical Systems 654 (Paperback)
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The Yield Curve and Financial Risk Premia: Implications for Monetary Policy - Lecture Notes in Economics and Mathematical Systems 654 (Paperback)

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Paperback 260 Pages / Published: 17/08/2011
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The determinants of yield curve dynamics have been thoroughly discussed in finance models. However, little can be said about the macroeconomic factors behind the movements of short- and long-term interest rates as well as the risk compensation demanded by financial investors. By taking on a macro-finance perspective, the book's approach explicitly acknowledges the close feedback between monetary policy, the macroeconomy and financial conditions. Both theoretical and empirical models are applied in order to get a profound understanding of the interlinkages between economic activity, the conduct of monetary policy and the underlying macroeconomic factors of bond price movements. Moreover, the book identifies a broad risk-taking channel of monetary transmission which allows a reassessment of the role of financial constraints; it enables policy makers to develop new guidelines for monetary policy and for financial supervision of how to cope with evolving financial imbalances.

Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
ISBN: 9783642215742
Number of pages: 260
Weight: 504 g
Dimensions: 235 x 155 x 17 mm


MEDIA REVIEWS

From the reviews:

"This book is a really interesting and valuable source for all those who are interested in broad and deep look to the financial side of economy. The structure of the book is clear and allows a reader to easily follow the author's considerations and conclusions. ... It is well written and in a clear way presents both theoretical and empirical approach to the topic. ... a useful source for all those determined to understand the reality beyond the mathematical models of term structure." (Malgorzata Doman, Zentralblatt MATH, Vol. 1247, 2012)

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