Skip to main content
SpringerLink
Log in

The Theory of the Price of Securities and of the Interest Rates

  • Chapter
Economics and Ethics 1

  • 95 Accesses

Abstract

Following the general approach of this book, we explain the price of securities (in the broad sense, including capital stock) by the actions of brokers at the exchange and the interest rates by decisions of banks concerning the conditions of their loans. As to the price of securities, we already considered the offer and demand of securities in case of a household in some detail (see section 1.25). This approach is quite general and can be extended to any individual or institution. Thus we do not repeat it here. But the fixing of rates by the brokers is only dealt with in a short digression (section 1.26 in) which covers only the 2-person case.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 84.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 109.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. Barro, Robert J.: Macroeconomics, 4th ed. New York etc. ( Wiley ), 1993

    Google Scholar 

  2. Barro, Robert J. and Grilli, Vittorio: European Macroeconomics, London (The McMillan Press), 1994

    Google Scholar 

  3. Beckmann, Martin J., Menges, Günter and Selten, Reinhard (eds.): Handbuch der Mathematischen Wirtschaftswissenschaften, Vol. I, Wirtschaftstheorie, Wiesbaden (Gabler), 1979

    Google Scholar 

  4. Burda, Michael and Wyplosz, Charles: Macroeconomics. A European Text, Oxford etc. (Oxford University Press), 1993

    Google Scholar 

  5. Cohen, Randolph, Gompers, Paul and Vuolteenaho, Tuomo: Who Underreacts to Cash-Flow News? Evidence from Trading between Individuals and Institutions,N.B.E.R. Working Paper No. 8793

    Google Scholar 

  6. Dornbusch, Rudiger and Fischer, Stanley: Macroeconomics, New York etc. (McGraw-Hill), 1978

    Google Scholar 

  7. Frisch, Helmut: Theories of Inflation, London, New York etc. (Cambridge University Press ), 1983

    Google Scholar 

  8. Gorman, Linda: Who Underreacts to Cash-Flow News?, The N.B.E.R. Digest, June 2002

    Google Scholar 

  9. Heimstädter, Ernst: Wirtschaftstheorie II, Makroökonomische Theorie, 3rd ed. München (Vahlen), 1986

    Google Scholar 

  10. Heimstädter, Ernst: Wirtschaftstheorie I, Mikroökonomische Theorie, 4th ed. München (Vahlen), 1991

    Google Scholar 

  11. Hildenbrand, Werner: Market Demand: Theory and Empirical Evidence, Princeton (Princeton University Press), 1994

    Google Scholar 

  12. Hildenbrand, Werner and Kneip, Alois: Aggregation under structural stability: the change in consumption of a heterogeneous population, Bonn Econ Discussion Papers 4 /2002, January 2002

    Google Scholar 

  13. Holtemöller, Oliver: Money and Prices: An I(2) Analysis for the Euro Area, Discussion Paper No. 12/2002 of SFB 373, Humboldt-Universität Berlin, January 2002

    Google Scholar 

  14. Holtemöller, Oliver: Money and Banks: Some Theory and Empirical Evidence for Germany, Discussion Paper No. 17/2002 of SFB 373, Humboldt-Universität Berlin, 2002

    Google Scholar 

  15. Krelle, Wilhelm: Preistheorie I, Tübingen (Mohr Siebeck), 2nd ed. 1976

    Google Scholar 

  16. Krelle, Wilhelm: Preistheorie II, Tübingen (Mohr Siebeck), 2nd ed. 1976

    Google Scholar 

  17. Mankiw, N. Gregory: Principles of Economics, Fort Worth, Philadelphia etc. (The Dryden Press), 1998

    Google Scholar 

  18. Neumann, Manfred: Theoretische Volkswirtschaftslehre I, München (Vahlen), 5th ed. 1996

    Google Scholar 

  19. Romer, David: Advanced Macroeconomics, New York etc. (McGraw-Hill), 1996

    Google Scholar 

  20. Rose, Manfred: Finanzwissenschaftliche Makrotheorie, München (Vahlen), 1980

    Google Scholar 

  21. Samuelson, Paul A.: Economics, 17th ed. (McGraw-Hill), 2000

    Google Scholar 

  22. Schweizer, Urs: Vertragstheorie, Tübingen (Mohr Siebeck), 1999

    Google Scholar 

  23. Tirole, Jean: The Theory of Industrial Organization, Cambridge/Mass. ( MIT Press ), 1988

    Google Scholar 

  24. Varian, Hal R.: Grundzüge der Mikroökonomik (Intermediate Microeconomics), 5th ed. München, Wien (Oldenbourg ), 2001

    Google Scholar 

  25. Wolfstetter, Elmar: Topics in Microeconomics, Cambridge (Cambridge University Press), 1999

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Rechts- und Staatswissenschaftliche Fakultät, Universität Bonn, Adenauerallee 24-42, 53113, Bonn, Germany

    Professor Dr. Wilhelm E. Krelle

Authors
  1. Professor Dr. Wilhelm E. Krelle
    View author publications

    You can also search for this author in PubMed Google Scholar

Rights and permissions

Reprints and permissions

Copyright information

© 2003 Springer-Verlag Berlin · Heidelberg

About this chapter

Cite this chapter

Krelle, W.E. (2003). The Theory of the Price of Securities and of the Interest Rates. In: Economics and Ethics 1. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-24733-3_7

Download citation

  • DOI: https://doi.org/10.1007/978-3-540-24733-3_7

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-642-53434-8

  • Online ISBN: 978-3-540-24733-3

  • eBook Packages: Springer Book Archive

Publish with us

Policies and ethics

Search

Navigation