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The Economics of Derivatives

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Penilaian

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There are two broad areas of economic derivatives ? the financial stream which discusses how derivative markets work, and the economic stream which looks at the contributions of derivatives to overall economic well-being. This book deals with the economic stream. It examines both the beneficial and adverse effects of derivatives trading from economic theory, the perspectives of empirical evidence and also the recent economic history. Aiming to present the concepts in a non-mathematical and simple manner, and with the authors? own synthesis, it draws economic insights from relevant work in other disciplines, particularly sociology and law. The book also provides some new theoretical ideas and recommendations towards a pragmatic and practical approach for policy-makers. The ultimate objective is to provide a basic conceptual framework which will help its readers form a judgment on whether derivatives are beneficial or harmful to the economy.

Endorsements:

?Derivatives are beneficial in small quantities and toxic in large volume. This book, rooted in deep knowledge of both markets and policy-making, shows how to handle the dilemmas this creates.? ?John Kay, London School of Economics ?Simple yet lucid, comprehensive without being unmanageable, and practical while retaining analytical rigour. This book is an absolute must for those trying to make sense of derivatives and those trying to regulate them.?. ?Arvind Subramanian (formerly, Peterson Institute for International Economics), Chief Economic Adviser, Government of India ?The ?value add? of derivatives remains contentious. ? This outstanding book synthesizes the debate and presents a much needed balanced view that should inform policy-making in both advanced economies and emerging markets.? ?D. Subbarao, Former Governor, Reserve Bank of India ?This unique, fascinating and eminently readable book presents a synthesis of theory, empirical evidence, market practices and case studies and provides an outstanding analytical framework for policy making and implementation.? ?Y. V. Reddy, Former Governor, Reserve Bank of India ?Hundreds of books have been written on derivatives; this unique book fills a very important gap by taking a step back to offer a framework for analyzing the societal cost and benefits. Any academic, practitioner, policy maker or serious student of financial history must find a place for this on their bookshelf.? ?Hossein Kazemi, University of Massachusetts ?Derivatives are creative in the hands of the artist, destructive in the hands of the artful. This much-needed book raises the standard on realistic, professional assessment of a much misunderstood subject. I totally recommend it as a textbook and a handbook for policy makers." ?Andrew Sheng, former Chairman, Securities and Futures Exchange Commission, Hong Kong

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Ketersediaan

B20170766

332.6457 SOM e

My Library

Tersedia

Informasi Detail

Judul Seri

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No. Panggil

332.6457 SOM e

Penerbit

Delhi : Cambridge., 2015

Deskripsi Fisik

xv, 255 hlm.: 25 cm

Bahasa

English

ISBN/ISSN

9781107091504

Klasifikasi

332.6457

Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

Derivative securities

Info Detail Spesifik

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Pernyataan Tanggungjawab

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Versi lain/terkait

Lampiran Berkas

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