"Asset Prices, Booms and Recessions" is a book on Financial Economics from a dynamic perspective. It focuses on the dynamic interaction of financial markets and economic activity. The financial markets to be studied here encompasses the money and bond market, credit market, stock market and foreign exchange market. Economic activity is described by the activity of firms, banks, households, governments and countries. The book shows how economic activity affects asset prices and the financial market and how asset prices and financial market volatility feed back to economic activity. The focus in this book is on theories, dynamic models and empirical evidence. Empirical applications relate to episodes of financial instability and financial crises of the U.S., Latin American, Asian as well as Euro-area countries. The current version of the book has moved to a more extensive coverage of the topics in financial economics by updating the literature in the appropriate chapters. Moreover it gives a more extensive treatment of new and more advanced topics in financial economics such as international portfolio theory, multi-agent and evolutionary approaches, capital asset pricing beyond consumption-based models and dynamic portfolio decisions. Overall, the book presents material that researchers and practitioners in financial engineering need to know about economic dynamics and that economists, practitioners and policy makers need to know about the financial market.
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The book studies the interaction of the financial market, economic activity and the macroeconomy from a dynamic perspective. The financial market to be studied here encompasses the money and bond market, credit market, stock market and foreign exchange market. Economic activity is described by the activity of firms, banks, households, governments and countries. The book shows how economic activity affects asset prices and the financial market and how asset prices and financial market volatility feed back to economic activity. The focus in this book is on theories, dynamic models and empirical evidence. Empirical applications relate to episodes of financial instability and financial crises of the U.S., Latin American, Asian as well as Euro-area countries. The book is not only useful for researchers and practitioners in the field of financial engineering, but is also very useful for researchers and practitioners in economics.
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Excellent and Intense!,
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This review is from: Asset Prices, Booms and Recessions: Financial Market, Economic Activity and the Macroeconomy (Hardcover)
No one who has lived through the last ten years can not have realized how tightly the economy has become coupled to the financial marketplace. Prof. Semmler has gone beyond that realization and has undertaken to examine the actual mechanics by which it occurs. In this excellent and intense introduction, current macroeconomic-financial models are explored; the reader will quickly appreciate how asset price booms and subsequent recessions actually work. Semmler's style is "to the point" and his enthusiasm for his subject is contagious. Anyone with an advanced undergraduate understanding of economics, as well as financial professionals, and scientists and engineers with a curiosity about macroeconomics and the financial marketplace will thoroughly enjoy this book.
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Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
- Asset Pricing: (Revised Edition) by John H. Cochrane on 9 pages
- International Money and Finance by C. Paul Hallwood in Back Matter (1), and Back Matter (2)
- Monetary Policy Rules (National Bureau of Economic Research Studies in Income and Wealth) by John B. Taylor in Back Matter (1), and Back Matter (2)
- Frontiers of Business Cycle Research by Thomas F. Cooley in Back Matter (1), and Back Matter (2)
- Financial Markets and Financial Crises (National Bureau of Economic Research Project Report) by R. Glenn Hubbard in Back Matter (1), and Back Matter (2)
See all 45 books this book cites
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