Economic Foundations for Finance
From Main Street to Wall Street
Author(s):Thorsten Hens, Sabine Elmiger
Springer
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Hardcover - 9783030054250
11 August 2019
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This book provides readers with essential concepts from financial economics for an integrated study of the financial system and the real economy. It discusses how long-term market prices are determined and affected by...
Show MoreThis book provides readers with essential concepts from financial economics for an integrated study of the financial system and the real economy. It discusses how long-term market prices are determined and affected by population growth, technological progress, non-renewable resources and monetary policy. The meaning of market prices is examined from the perspective of households and from the perspective of firms. The book therefore connects different fields of finance, which usually focus only on either the households’ side or the firms’ side.
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Provides a systematic analysis of market prices from the perspective of households and firms to help readers to gain a more integrated view of financial markets
Illustrates real-world examples to help readers to apply basic economic tools in discussions of highly topical issues in economics and finance
Includes numerous exercises at the end of the book providing the reader with a comprehension check
Financial Markets and Institutions
The Basic Economic Model
Extension of the Model to Capital
Extension of the Model to an Infinite Horizon
Extension of the Model to Exhaustible Resources
Aggregation
Conclusion
Appendix: Exercises
Mathematical Tools
Sufficiency of the Euler Equations
Covariance of SDF and Returns
Bibliography
Index.