In this book the relation between the characteristics of investors' preferences and expectations and equilibrium asset price processes are analysed. It is shown that declining elasticity of the pricing kernel…
The huge economic and social impact of high-tech industries on the fortunes of nation states has been widely recognised in recent years. Therefore, government policies encouraging the creation of new…
Foreign exchange intervention is frequently being used by central banks in countries which have a floating exchange rate. Most theoretical monetary policy models, however, do not take this phenomenon into…