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Asset Pricing for Dynamic Economies Sumru Altug (Koc University, Istanbul)

Asset Pricing for Dynamic Economies By Sumru Altug (Koc University, Istanbul)

Asset Pricing for Dynamic Economies by Sumru Altug (Koc University, Istanbul)


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Summary

This introduction to general equilibrium modeling takes an integrated approach to the analysis of macroeconomics and finance. It provides students, practitioners, and policymakers with an easily accessible set of tools that can be used to analyze a wide range of economic phenomena.

Asset Pricing for Dynamic Economies Summary

Asset Pricing for Dynamic Economies by Sumru Altug (Koc University, Istanbul)

This introduction to general equilibrium modelling takes an integrated approach to the analysis of macroeconomics and finance. It provides students, practitioners, and policymakers with an easily accessible set of tools that can be used to analyze a wide range of economic phenomena. Key features: * Provides a consistent framework for understanding dynamic economic models * Introduces key concepts in finance in a discrete time setting * Develops simple recursive approach for analyzing a variety of problems in a dynamic, stochastic environment * Sequentially builds up the analysis of consumption, production, and investment models to study their implications for allocations and asset prices * Reviews business cycle analysis and the business cycle implications of monetary and international models * Covers latest research on asset pricing in overlapping generations models and on models with borrowing constraints and transaction costs * Includes end-of-chapter exercises allowing readers to monitor their understanding of each topic Online resources are available at www.cambridge.org/altug_labadie

Asset Pricing for Dynamic Economies Reviews

'The team of Altug and Labadie have produced another superb book. Their first book sits on my book shelf where it is easy to reach. This second one will too.' William A. Brock, University of Wisconsin, Madison
'This is an excellent text from many perspectives. Concepts and model constructs discussed are clearly and precisely laid out, always in the context of ample intuition. All the necessary understanding is built up from scratch in the early chapters of the book, giving the reader an excellent preparation for later chapters. As an introduction to general equilibrium macro-modeling cum asset pricing, it is exceptional, most especially for beginning researchers. Important empirical aspects are featured as well.' John Donaldson, Columbia Business School
'... a major synthesis of the disciplines and could serve as a comprehensive guide to the new graduate student who wants to understand the mainstream tools and models for economists. ... the authors did a magnificent job of integrating the macro and financial theories into a coherent whole. The mathematics is beautiful, complete and well stated. ... Asset Pricing for Dynamic Economies may be useful to anyone who wants to understand the history of economic thought.' Communications and Strategies

About Sumru Altug (Koc University, Istanbul)

Sumru Altug is Professor of Economics at Koc University, Istanbul, and Research Fellow on the International Macroeconomics Programme at the Centre for Economic Policy Research (CEPR), London. Pamela Labadie is Professor of Economics at George Washington University, Washington DC.

Table of Contents

List of figures; List of tables; Preface; Part I. Basic Concepts: 1. Complete contingent claims; 2. Arbitrage and asset valuation; 3. Expected utility; 4. CAPM and APT; 5. Consumption and saving; Part II. Recursive Models: 6. Dynamic programming; 7. Intertemporal risk sharing; 8. Consumption and asset pricing; 9. Nonseparable preferences; 10. Economies with production; 11. Investment; 12. Business cycles; Part III. Monetary and International Models: 13. Models with money; 14. International models; Part IV. Models with Market Incompleteness: 15. Asset pricing with frictions; 16. Borrowing constraints; 17. Overlapping generations models; Part V. Supplementary Material: A. Mathematical appendix; References; Index.

Additional information

NLS9780521699143
9780521699143
0521699142
Asset Pricing for Dynamic Economies by Sumru Altug (Koc University, Istanbul)
New
Paperback
Cambridge University Press
2008-09-11
600
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
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