Financial market rates and flows:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Englewood Cliffs, NJ
Prentice-Hall Internat.
1990
|
| Ausgabe: | 3. ed. |
| Schriftenreihe: | Prentice-Hall international editions
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Literaturangaben |
| Beschreibung: | XI, 340 S. graph. Darst. |
| ISBN: | 0133176940 0133149560 |
Internformat
MARC
| LEADER | 00000nam a2200000 c 4500 | ||
|---|---|---|---|
| 001 | BV003703670 | ||
| 003 | DE-604 | ||
| 005 | 19930314 | ||
| 007 | t | ||
| 008 | 900725s1990 xxud||| |||| 00||| eng d | ||
| 020 | |a 0133176940 |9 0-13-317694-0 | ||
| 020 | |a 0133149560 |9 0-13-314956-0 | ||
| 035 | |a (OCoLC)318336861 | ||
| 035 | |a (DE-599)BVBBV003703670 | ||
| 040 | |a DE-604 |b ger |e rakddb | ||
| 041 | 0 | |a eng | |
| 044 | |a xxu |c XD-US | ||
| 049 | |a DE-384 |a DE-739 |a DE-355 |a DE-19 |a DE-521 |a DE-188 | ||
| 050 | 0 | |a HB539.V35 1990 | |
| 082 | 0 | |a 332.8 20 | |
| 082 | 0 | |a 332.82 |b V153 |b 1990 | |
| 084 | |a QK 600 |0 (DE-625)141666: |2 rvk | ||
| 100 | 1 | |a Van Horne, James C. |d 1935- |e Verfasser |0 (DE-588)128399015 |4 aut | |
| 245 | 1 | 0 | |a Financial market rates and flows |c James C. Van Horne |
| 250 | |a 3. ed. | ||
| 264 | 1 | |a Englewood Cliffs, NJ |b Prentice-Hall Internat. |c 1990 | |
| 300 | |a XI, 340 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 0 | |a Prentice-Hall international editions | |
| 500 | |a Literaturangaben | ||
| 650 | 4 | |a Interés | |
| 650 | 7 | |a Mercado de capitales |2 BUA | |
| 650 | 4 | |a Interest rates | |
| 650 | 4 | |a Flow of funds | |
| 650 | 4 | |a Capital market | |
| 650 | 0 | 7 | |a Kreditmarkt |0 (DE-588)4073788-3 |2 gnd |9 rswk-swf |
| 689 | 0 | 0 | |a Kreditmarkt |0 (DE-588)4073788-3 |D s |
| 689 | 0 | |5 DE-604 | |
| 856 | 4 | 2 | |m HBZ Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=002357598&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-002357598 | ||
Datensatz im Suchindex
| _version_ | 1804118048661045248 |
|---|---|
| adam_text | CONTENTS
PREFACE ix
1 THE FUNCTION OF FINANCIAL MARKETS 1
Savings Investment Foundation 1
Efficiency of Financial Markets 3
Financial Innovation 10
The Implications of Savings 13
Financial Flows and Interest Rates 16
Summary 18
Selected References 19
2 THE FLOW OF FUNDS SYSTEM 20
The Structure of the System 21
Federal Reserve Flow of Funds Data 26
Other Information 37
Forecasts of Future Sources and Uses 37
Summary 39
Selected References 40
iii
iv / Contents
3 FOUNDATIONS FOR INTEREST RATES 41
Measurement of Returns 41
The Interest Rate in an Exchange Economy 44
Interest Rates in a World with Risk 55
Market Equilibrium 66
Summary 69
Appendix: The Equilibrium Prices of Financial
Assets 70
Selected References 78
4 INFLATION AND RETURNS 79
The Historical Record in Brief 80
The Nature of Inflation Premiums 83
Nominal Interest Rates and Inflation,
Theoretically 89
Empirical Evidence on Nominal Interest Rates 91
Nominal Contracting Effects 97
Summary 100
Selected References 101
5 THE TERM STRUCTURE OF INTEREST RATES 103
The Pure Expectations Theory 104
Uncertainty and Term Premiums 111
Market Segmentation 115
Cox Ingersoll Ross Theory 117
Empirical Evidence 118
Summary 124
Selected References 126
6 COUPON BONDS, DURATION, IMMUNIZATION,
AND MARKET EQUILIBRATION 128
The Coupon Effect 128
The Duration Measure and Its Changing
Behavior 130
Contents / v
Immunization of Bond Portfolios 137
Equilibration between Coupon and Noncoupon
Bond Markets 144
Summary 148
Selected References 149
7 INTEREST RATE FUTURES 151
Features of Futures Markets 153
Hedging a Position 156
Basis Risk 160
Market Efficiency 164
Summary 168
Selected References 169
8 THE DEFAULT RISK STRUCTURE
OF INTEREST RATES 171
Promised, Realized, and Expected Rates 171
Empirical Evidence on Default Losses 176
Credit Ratings and Risk Premiums 181
Cyclical Behavior of Risk Premiums 185
The Market Segmentation Effect 188
Junk Bonds 190
Risk Structure and the Term Structure 193
Summary 197
Selected References 198
9 OPTION TYPE INSTRUMENTS 200
Option Valuation 200
Convertible and Exchangeable Bonds 209
Equity Linked Debt 217
Debt Options 219
Summary 224
Appendix A: Put Call Parity 225
vi / Contents
Appendix B: Application of Option Pricing Concepts
to Valuing Convertible Securities 227
Selected References 232
10 EMBEDDED OPTIONS
AND INTEREST RATE SWAPS 233
The Nature of the Call Feature 233
The Call Feature s Valuation 236
Mortgage Securities and Prepayment Risk 243
The Sinking Fund 248
Payment in Kind (PIK) 251
Interest Rate Swaps 254
Swap Valuation Issues 256
Summary 260
Selected References 261
11 CONTROLLING CURRENCY RISK 263
Risk and Return from Foreign Investment 263
Exchange Rate Management 265
Underlying Relationships 267
Other Ways to Shift Risk 271
Currency Swaps 275
Summary 279
Selected References 279
12 THE INFLUENCE OF TAXES 281
Municipal Bonds and the Taxation of Interest
Income 283
Differential Taxes on Interest and Capital
Gains 289
Estate Tax Bonds 298
Reflections on Discount Bonds 299
Tax Effects and the Term Structure 300
Preferred Stock Tax Effects 302
Contents / vii
Summary 304
Selected References 305
13 THE SOCIAL ALLOCATION OF CAPITAL 307
The Issues Involved 308
Ceilings on Borrowing Costs 309
Government Guarantees and Insurance 312
Interest Rate Subsidies 315
Financial Intermediation through Borrowing and
Relending 318
Regulations Affecting Investor and Borrower
Behavior 320
Qualification for Tax Exempt Financing 322
Policy Implications 324
Summary 326
Selected References 327
INDEX 329
|
| any_adam_object | 1 |
| author | Van Horne, James C. 1935- |
| author_GND | (DE-588)128399015 |
| author_facet | Van Horne, James C. 1935- |
| author_role | aut |
| author_sort | Van Horne, James C. 1935- |
| author_variant | h j c v hjc hjcv |
| building | Verbundindex |
| bvnumber | BV003703670 |
| callnumber-first | H - Social Science |
| callnumber-label | HB539 |
| callnumber-raw | HB539.V35 1990 |
| callnumber-search | HB539.V35 1990 |
| callnumber-sort | HB 3539 V35 41990 |
| callnumber-subject | HB - Economic Theory and Demography |
| classification_rvk | QK 600 |
| ctrlnum | (OCoLC)318336861 (DE-599)BVBBV003703670 |
| dewey-full | 332.820 332.82 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.8 20 332.82 |
| dewey-search | 332.8 20 332.82 |
| dewey-sort | 3332.8 220 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| edition | 3. ed. |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>01651nam a2200469 c 4500</leader><controlfield tag="001">BV003703670</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">19930314 </controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">900725s1990 xxud||| |||| 00||| eng d</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">0133176940</subfield><subfield code="9">0-13-317694-0</subfield></datafield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">0133149560</subfield><subfield code="9">0-13-314956-0</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)318336861</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV003703670</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rakddb</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">xxu</subfield><subfield code="c">XD-US</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-384</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-19</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-188</subfield></datafield><datafield tag="050" ind1=" " ind2="0"><subfield code="a">HB539.V35 1990</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">332.8 20</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">332.82</subfield><subfield code="b">V153</subfield><subfield code="b">1990</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QK 600</subfield><subfield code="0">(DE-625)141666:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Van Horne, James C.</subfield><subfield code="d">1935-</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)128399015</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Financial market rates and flows</subfield><subfield code="c">James C. Van Horne</subfield></datafield><datafield tag="250" ind1=" " ind2=" "><subfield code="a">3. ed.</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Englewood Cliffs, NJ</subfield><subfield code="b">Prentice-Hall Internat.</subfield><subfield code="c">1990</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">XI, 340 S.</subfield><subfield code="b">graph. Darst.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">Prentice-Hall international editions</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">Literaturangaben</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Interés</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Mercado de capitales</subfield><subfield code="2">BUA</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Interest rates</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Flow of funds</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Capital market</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Kreditmarkt</subfield><subfield code="0">(DE-588)4073788-3</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="689" ind1="0" ind2="0"><subfield code="a">Kreditmarkt</subfield><subfield code="0">(DE-588)4073788-3</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2=" "><subfield code="5">DE-604</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">HBZ Datenaustausch</subfield><subfield code="q">application/pdf</subfield><subfield code="u">http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=002357598&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-002357598</subfield></datafield></record></collection> |
| id | DE-604.BV003703670 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T16:04:06Z |
| institution | BVB |
| isbn | 0133176940 0133149560 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-002357598 |
| oclc_num | 318336861 |
| open_access_boolean | |
| owner | DE-384 DE-739 DE-355 DE-BY-UBR DE-19 DE-BY-UBM DE-521 DE-188 |
| owner_facet | DE-384 DE-739 DE-355 DE-BY-UBR DE-19 DE-BY-UBM DE-521 DE-188 |
| physical | XI, 340 S. graph. Darst. |
| publishDate | 1990 |
| publishDateSearch | 1990 |
| publishDateSort | 1990 |
| publisher | Prentice-Hall Internat. |
| record_format | marc |
| series2 | Prentice-Hall international editions |
| spelling | Van Horne, James C. 1935- Verfasser (DE-588)128399015 aut Financial market rates and flows James C. Van Horne 3. ed. Englewood Cliffs, NJ Prentice-Hall Internat. 1990 XI, 340 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Prentice-Hall international editions Literaturangaben Interés Mercado de capitales BUA Interest rates Flow of funds Capital market Kreditmarkt (DE-588)4073788-3 gnd rswk-swf Kreditmarkt (DE-588)4073788-3 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=002357598&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Van Horne, James C. 1935- Financial market rates and flows Interés Mercado de capitales BUA Interest rates Flow of funds Capital market Kreditmarkt (DE-588)4073788-3 gnd |
| subject_GND | (DE-588)4073788-3 |
| title | Financial market rates and flows |
| title_auth | Financial market rates and flows |
| title_exact_search | Financial market rates and flows |
| title_full | Financial market rates and flows James C. Van Horne |
| title_fullStr | Financial market rates and flows James C. Van Horne |
| title_full_unstemmed | Financial market rates and flows James C. Van Horne |
| title_short | Financial market rates and flows |
| title_sort | financial market rates and flows |
| topic | Interés Mercado de capitales BUA Interest rates Flow of funds Capital market Kreditmarkt (DE-588)4073788-3 gnd |
| topic_facet | Interés Mercado de capitales Interest rates Flow of funds Capital market Kreditmarkt |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=002357598&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT vanhornejamesc financialmarketratesandflows |