The Economics of Futures Markets - Softcover

Stein, Jerome L.

Softcover

ISBN 10: 0631168842 ISBN 13: 9780631168843

Verlag: Blackwell Publishers, 1990

Inhaltsangabe

Book by Jerome L Stein

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This is work develops a theory of the real effects of futures markets, their role in the inter-temporal allocation of resources, and their effects on economic and social welfare. Futures are neither insurance nor a gamble, but, Professor Stein argues, given the market's influence on expected output, actual supply, price variance and competition, they have become essential risk management tools. In this wide-ranging study he surveys the current and potential uses of futures, from traditional commodities to forward-pricing guidelines. Stein presents his analysis as a model, not a manual. There are applications for the foreign exchange market as well as traditional commodities. In the case of interest rates and stock index futures, the focus is upon the capital formation process - a significant policy issue. Stein also provides a consistent theoretical explanation of the numerous empirical studies which have been conducted in this area.

Über diese Auflage

• Verlag: Blackwell Publishers
• Erscheinungsdatum: 1990
• ISBN 10: 0631168842
• ISBN 13: 9780631168843
• Einband: Tapa blanda
• Anzahl der Seiten: 256