Table of contents
About this book
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.
In recognition of his excellent thesis, the author received the Suedwestbank Award 2011.
- DOI https://doi.org/10.1007/978-3-642-21575-9
- Copyright Information Springer-Verlag Berlin Heidelberg 2011
- Publisher Name Springer, Berlin, Heidelberg
- eBook Packages Business and Economics
- Print ISBN 978-3-642-21574-2
- Online ISBN 978-3-642-21575-9
- Series Print ISSN 0075-8442
- Buy this book on publisher's site
- Industry Sectors
- Finance, Business & Banking