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Microeconomic Risk Management and Macroeconomic Stability [electronic resource] /by Andreas Röthig.

by Röthig, Andreas [author.]; SpringerLink (Online service).
Material type: materialTypeLabelBookSeries: Lecture Notes in Economics and Mathematical Systems: 625Publisher: Berlin, Heidelberg : Springer Berlin Heidelberg, 2009.Description: online resource.ISBN: 9783642015656.Subject(s): Economics | International economics | Macroeconomics | Finance | Economics/Management Science | Financial Economics | International Economics | Macroeconomics/Monetary Economics | Finance/Investment/BankingDDC classification: 332 Online resources: Click here to access online
Contents:
Preliminary Explorations -- A Micro View: Optimal Risk Management -- Backwardation and Optimal Hedging Demand in an Expected Utility Hedging Model -- Mean-Variance Versus Minimum-Variance Hedging -- A Macro View: Economic Stability -- Corporate Risk Management in Balance-Sheet Triggered Currency Crises -- Arbitrage Pressure, Positive Feedback Speculation, Selective Hedging, and Economic Stability: An Empirical Analysis and Catastrophe Modelling -- Conclusions.
In: Springer eBooksSummary: While the determinants of firms’ optimal hedging strategies on the micro level are well understood, there is rarely any literature dealing with macroeconomic consequences of microeconomic risk management. This book is concerned with the impact of diverse hedging policies on macroeconomic stability. It addresses this issue by employing theoretical as well as empirical methods.
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Preliminary Explorations -- A Micro View: Optimal Risk Management -- Backwardation and Optimal Hedging Demand in an Expected Utility Hedging Model -- Mean-Variance Versus Minimum-Variance Hedging -- A Macro View: Economic Stability -- Corporate Risk Management in Balance-Sheet Triggered Currency Crises -- Arbitrage Pressure, Positive Feedback Speculation, Selective Hedging, and Economic Stability: An Empirical Analysis and Catastrophe Modelling -- Conclusions.

While the determinants of firms’ optimal hedging strategies on the micro level are well understood, there is rarely any literature dealing with macroeconomic consequences of microeconomic risk management. This book is concerned with the impact of diverse hedging policies on macroeconomic stability. It addresses this issue by employing theoretical as well as empirical methods.

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