This book is concerned with a world where the return on capital, interest rates and exchange rates are not known with certainty. On the basis of state of the art research in applied mathematics and economics, the author derives benchmarks that are used to answer many important questions. This research develops analytical tools that can explain and evaluate trends in real exchange rates, and provide theoretically based warning signals of currency and debt crises.
This book is concerned with a world where the return on capital, interest rates and exchange rates are not known with certainty. On the basis of state...
How successful is PPP, and its extension in the monetary model, as a measure of the equilibrium exchange rate?
What are the determinants and dynamics of equilibrium real exchange rates?
How can misalignments be measured, and what are their causes?
What are the effects of specific policies upon the equilibrium exchange rate?
The answers to these questions are important to academic theorists, policymakers, international bankers and investment fund managers. This volume encompasses all of the competing views of equilibrium exchange rate...
How successful is PPP, and its extension in the monetary model, as a measure of the equilibrium exchange rate?
Stochastic Optimal Control (SOC)--a mathematical theory concerned with minimizing a cost (or maximizing a payout) pertaining to a controlled dynamic process under uncertainty--has proven incredibly helpful to understanding and predicting debt crises and evaluating proposed financial regulation and risk management. Stochastic Optimal Control and the U.S. Financial Debt Crisis analyzes SOC in relation to the 2008 U.S. financial crisis, and offers a detailed framework depicting why such a methodology is best suited for reducing financial risk and addressing key regulatory issues....
Stochastic Optimal Control (SOC)--a mathematical theory concerned with minimizing a cost (or maximizing a payout) pertaining to a controlled dynami...
Defending society against natural hazards is a high-stakes game of chance against nature, involving tough decisions. How should a developing nation allocate its budget between building schools for towns without ones or making existing schools earthquake-resistant? Does it make more sense to build levees to protect against floods, or to prevent development in the areas at risk? Would more lives be saved by making hospitals earthquake-resistant, or using the funds for patient care? What should scientists tell the public when - as occurred in L'Aquila, Italy and Mammoth Lakes, California -...
Defending society against natural hazards is a high-stakes game of chance against nature, involving tough decisions. How should a developing nation...
How successful is PPP, and its extension in the monetary model, as a measure of the equilibrium exchange rate?
What are the determinants and dynamics of equilibrium real exchange rates?
How can misalignments be measured, and what are their causes?
What are the effects of specific policies upon the equilibrium exchange rate?
The answers to these questions are important to academic theorists, policymakers, international bankers and investment fund managers. This volume encompasses all of the competing views of equilibrium exchange rate...
How successful is PPP, and its extension in the monetary model, as a measure of the equilibrium exchange rate?
The interrelated issues analyzed in this book are as follows. With the integration of Europe, there are free movements in goods, services, short and long term capital, and direct investment. The German mark is the key currency in Europe and its value will affect the equilibrium bilateral exchange rates of the other currencies in the European Union. It is important to examine the following issues. What have been the fundamental determinants of the real value of the mark since the period of floating? What will be the effects of German integration upon exchange rates? How can we measure whether...
The interrelated issues analyzed in this book are as follows. With the integration of Europe, there are free movements in goods, services, short and l...
Stochastic Optimal Control (SOC)--a mathematical theory concerned with minimizing a cost (or maximizing a payout) pertaining to a controlled dynamic process under uncertainty--has proven incredibly helpful to understanding and predicting debt crises and evaluating proposed financial regulation and risk management. Stochastic Optimal Control and the U.S. Financial Debt Crisis analyzes SOC in relation to the 2008 U.S. financial crisis, and offers a detailed framework depicting why such a methodology is best suited for reducing financial risk and addressing key regulatory issues....
Stochastic Optimal Control (SOC)--a mathematical theory concerned with minimizing a cost (or maximizing a payout) pertaining to a controlled dynami...
