The Economics of Financial Markets PDF Download
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Author: Hendrik S. Houthakker
Publisher: Oxford University Press, USA
ISBN: 019504407X
Category : Business & Economics
Languages : en
Pages : 376
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Book Description
Providing a comprehensive introduction to the subject of financial markets, this study includes unique analyses of the pricing of options and futures, particularly futures in Eurodollars. The authors assume a basic understanding of economics.
Author: Hendrik S. Houthakker
Publisher: Oxford University Press, USA
ISBN: 019504407X
Category : Business & Economics
Languages : en
Pages : 376
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Book Description
Providing a comprehensive introduction to the subject of financial markets, this study includes unique analyses of the pricing of options and futures, particularly futures in Eurodollars. The authors assume a basic understanding of economics.
Author: T. V. Somanathan
Publisher: Cambridge University Press
ISBN: 1108416209
Category : Business & Economics
Languages : en
Pages : 347
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Book Description
A comprehensive, concise treatment of the subject of derivatives focusing on making essential concepts accessible to wider audiences.
Author: Andreas Röthig
Publisher: Springer Science & Business Media
ISBN: 3642015654
Category : Business & Economics
Languages : en
Pages : 150
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Book Description
“The essence of a hedging contract is a coincident purchase and sale in two markets which are expected to behave in such a way that any loss realized in one will be offset by an equivalent gain in the other. If such behavior follows a perfect hedge has been effected. ” Hardy and Lyon (1923, p. 276). 1. 1 LiteratureReviewandMotivation In the traditional hedging literature, the two markets in which hedgers trade are spot and futures markets. The trader’s position in the spot market is generally considered as given. According to Johnson (1960), hedging can be meaningfully de?ned only if the spot market is regarded as the trader’s primary market. The futures market is used solely to counterbalance an existing position in the spot market. Speculators, in contrast, do not have a commitment in the spot market. They take on risk in futures markets in order to pro?t from expected price changes. The hedger synchronizes his trading activities in spot and futures markets in order to reduce spot risk. In the lit- ature this approach to hedging is labeled risk reduction concept. Risk reduction will be achieved if spot and futures prices move more or less in parallel. If prices are p- fectly correlated, risk is abolished, since losses in one market are perfectly offset by pro?ts in the other market. However, as Hardy and Lyon (1923) point out, any div- gence from perfect correlation results in an imperfect hedge.
Author: B.A. Goss
Publisher: Springer
ISBN: 134902693X
Category : Business & Economics
Languages : en
Pages : 236
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Book Description
Author: Glen Swindle
Publisher: Cambridge University Press
ISBN: 1107036844
Category : Business & Economics
Languages : en
Pages : 499
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Book Description
This book surveys the mechanics of energy markets and the valuation of structures commonly arising in practice. The presentation balances quantitative issues and practicalities facing portfolio managers, with substantial attention paid to the ways in which common methods fail in practice and to alternative methods when they exist. The book will provide readers with the analytical foundation required to function in modern energy trading and risk management groups.
Author: John Fletcher
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 640
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Book Description
Author: Craig Pirrong
Publisher: Cambridge University Press
ISBN: 1139501976
Category : Business & Economics
Languages : en
Pages : 239
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Book Description
Commodities have become an important component of many investors' portfolios and the focus of much political controversy over the past decade. This book utilizes structural models to provide a better understanding of how commodities' prices behave and what drives them. It exploits differences across commodities and examines a variety of predictions of the models to identify where they work and where they fail. The findings of the analysis are useful to scholars, traders and policy makers who want to better understand often puzzling - and extreme - movements in the prices of commodities from aluminium to oil to soybeans to zinc.
Author:
Publisher:
ISBN:
Category : Social sciences
Languages : en
Pages : 468
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Book Description
Author: Joint Bank-Fund Library
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 716
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Book Description
Author: Ignazio Basile
Publisher: Springer Nature
ISBN: 3031598199
Category :
Languages : en
Pages : 559
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Book Description
