Puzzles of Finance

Puzzles of Finance
Author: Mark P. Kritzman
Publisher: John Wiley & Sons
Total Pages: 214
Release: 2002-08-19
Genre: Business & Economics
ISBN: 9780471228844

Mit einigen wichtigen Theorien muß jeder Finanzexperte vertraut sein, wenn er die Grundlagen der Finanzanalyse verstehen will. In der Regel jedoch, werden diese Theorien nur unzureichend verstanden. "Puzzles of Finance" befaßt sich eingehend mit diesen komplizierten Finanzthemen und liefert dem Leser verständliche Erklärungen und Definitionen, die sich auf ein absolutes Minimum an Terminologie und Mathematik beschränken.

Financial Games for Training

Financial Games for Training
Author: John Kind
Publisher: Routledge
Total Pages: 338
Release: 2018-01-18
Genre: Business & Economics
ISBN: 1351158228

Accounting and finance have a reputation for complexity and dullness. Financial Games for Training aims to change these perceptions! It is an original collection of more than 65 brainteasers, crosswords, puzzles and quizzes plus all the solutions. They've been specially designed to bring a light-hearted but rigorous approach to the study and teaching of an otherwise 'boring' subject. Whether you're a student or executive, participant or tutor, here's the treasure chest you need to improve your grasp of finance for business. You won't think about the subject in quite the same way ever again!

Puzzles in International Financial Markets

Puzzles in International Financial Markets
Author: Karen K. Lewis
Publisher:
Total Pages: 94
Release: 1994
Genre: Foreign exchange rates
ISBN:

This paper presents a survey of two basic puzzles in international finance. The first puzzle is the `predictable excess return puzzle.' The returns on foreign currency deposits relative to domestic currency deposits should be equalized based upon uncovered interest parity. However, not only do researchers find that deviations from uncovered interest parity are predictable ex ante, but their variance exceeds the variance in expected exchange rate changes. In the paper, I describe different explanations of this phenomenon including the view that excess returns are driven by a foreign exchange risk premium, peso problems or learning, and market inefficiencies. While the research to date has been able to better define the `predictable excess return puzzle' and to suggest the most likely directions for future progress, no one explanation has provided a full answer to the puzzle. The second puzzle is the `home bias puzzle.' Empirical evidence shows that domestic residents do not diversify sufficiently into foreign stocks. This evidence is clear whether looking at models based on portfolio holdings or outcomes of consumption realizations across countries. In this paper, I examine several possible explanations including non-traded goods and market inefficiencies, although even after considering these possibilities, the puzzle remains.

Money

Money
Author: Sergio M. Focardi
Publisher: Routledge
Total Pages: 188
Release: 2018-03-19
Genre: Business & Economics
ISBN: 131539104X

By enabling the storage and transfer of purchasing power, money facilitates economic transactions and coordinates economic activity. But what is money? How is it generated? Distributed? How does money acquire value and that value change? How does money impact the economy, society? This book explores money as a system of "tokens" that represent the purchasing power of individual agents. It looks at how money developed from debt/credit relationships, barter and coins into a system of gold-backed currencies and bank credit and on to the present system of fiat money, bank credit, near-money and, more recently, digital currencies. The author successively examines how the money circuit has changed over the last 50 years, a period of stagnant wages, increased household borrowing and growing economic complexity, and argues for a new theory of economies as complex systems, coordinated by a banking and financial system. Money: What It Is, How It’s Created, Who Gets It and Why It Matters will be of interest to students of economics and finance theory and anyone wanting a more complete understanding of monetary theory, economics, money and banking.

Money, Interest, and the Structure of Production

Money, Interest, and the Structure of Production
Author: Mateusz Machaj
Publisher: Lexington Books
Total Pages: 215
Release: 2017-10-05
Genre: Business & Economics
ISBN: 1498557554

Is macroeconomic equilibrium possible under capitalism? How do economic bubbles develop? How does a monetary system influence the market mechanism? Is the return on capital a beneficial feature of the economic system? How does complexity of a capitalist organization influence the market process? Can output under capitalism be easily measured and modeled? Such questions and many others relate to the central concept discussed in the book: heterogeneous structure of production, an envisioned theoretical connection between stages of the capitalist process. An inquiry into the functioning of a capital structure is necessary to understand the workings of the interest rate, savings, aggregate demand, and economic growth. Additionally it provides a theoretical framework to recognize consequences of monetary regimes and interest rate policies performed by the central banks. Capital structure concepts have their place at the center of economic theory as they can provide a broad range of insights into our understanding of the real world. Money, Interest, and the Structure of Production offers key insights in that direction.

Finance for Normal People

Finance for Normal People
Author: Meir Statman
Publisher: Oxford University Press
Total Pages: 489
Release: 2017
Genre: Business & Economics
ISBN: 019062647X

Finance for Normal People teaches behavioral finance to people like you and me - normal people, neither rational nor irrational. We are consumers, savers, investors, and managers - corporate managers, money managers, financial advisers, and all other financial professionals. The book guides us to know our wants-including hope for riches, protection from poverty, caring for family, sincere social responsibility and high social status. It teaches financial facts and human behavior, including making cognitive and emotional shortcuts and avoiding cognitive and emotional errors such as overconfidence, hindsight, exaggerated fear, and unrealistic hope. And it guides us to banish ignorance, gain knowledge, and increase the ratio of smart to foolish behavior on our way to what we want. These lessons of behavioral finance draw on what we know about us-normal people-including our wants, cognition, and emotions. And they draw on the roles of these factors in saving and spending, portfolio construction, returns we can expect from our investments, and whether we can hope to beat the market. Meir Statman, a founder of behavioral finance, draws on his extensive research and the research of many others to build a unified structure of behavioral finance. Its foundation blocks include normal behavior, behavioral portfolio theory, behavioral life-cycle theory, behavioral asset pricing theory, and behavioral market efficiency.

The Productivity Puzzle: Restoring Economic Dynamism

The Productivity Puzzle: Restoring Economic Dynamism
Author: David Adler
Publisher: CFA Institute Research Foundation
Total Pages: 279
Release: 2019-10-30
Genre: Business & Economics
ISBN: 1944960848

This monograph is a collection of articles on productivity and related topics submitted by speakers at an interdisciplinary November 2017 conference sponsored by, among others, the CFA Institute Research Foundation, with additional articles solicited by the editors from noted experts on the field.

Wealth Conundrum

Wealth Conundrum
Author: Ralph Doudera
Publisher: Signature Ed
Total Pages: 180
Release: 2006
Genre: Business & Economics
ISBN: 9780977689200

A money manager who handles millions of his own and others wealth describes his struggles with loving money vs. giving it away to the needy.

Puzzles and Paradoxes in Economics

Puzzles and Paradoxes in Economics
Author: Mark Skousen
Publisher: Edward Elgar Publishing
Total Pages: 232
Release: 1997-05-15
Genre: Business & Economics
ISBN: 1800886489

Economics is full of puzzles and paradoxes that often frustrate and challenge everyone, including economists. This engaging book includes fifty puzzles and focuses on three types of paradox. First, everyday observations that appear to belie common sense (such as why some supermarket items sell for more per ounce in larger sizes). Secondly, those paradoxes which have perplexed economists in the past but have since been fairly resolved (such as the diamond–water paradox). Finally, empirical or conceptual anomalies that remain unresolved and present a challenge to today’s economists (such as the voting paradox).

The Puzzle of Twenty-First-Century Globalization

The Puzzle of Twenty-First-Century Globalization
Author: Patrice Franko
Publisher: Rowman & Littlefield
Total Pages: 282
Release: 2017-03-02
Genre: Political Science
ISBN: 1538100266

The Puzzle of Twenty-First-Century Globalization explores the opportunities and challenges of our international economic system. Patrice Franko and Stephen Stamos clearly trace how the ways we produce, finance, and trade goods and services are profoundly shaped by technologies of communication, transportation, and trade. Globalization encourages hyper-specialization—lavishly rewarding those with the skill sets to serve the global marketplace and punishing those poorly positioned to compete. Globalized systems have created great prosperity—along with instability, vulnerability, and backlash. Few genuinely understand the complex underpinnings of our international economic system—and these specialists tend to operate in isolated silos of finance, trade, and production. But without appreciating how systems come together, we cannot explain political reactions against the costs of globalization such as the Brexit vote or the rise of Donald Trump. We don’t value the changing geo-economic importance of the developing world nor the deep threat to ecosystems. This book is the first to emphasize the interrelated economic aspects of globalization from an interdisciplinary perspective. By placing an introduction to trade, finance, and multinational production in the same text that discusses the changing role of developing countries and the challenges to the environment, the authors provide the novice with the basics to understand the global economy while also challenging advanced students to appreciate global connectivity. Closing the knowledge gap in international economics, the authors present the historical context, interdisciplinary grounding, and competing political perspectivesneededto encourage sound critical thinking around contemporary globalization. They provide the essential global economic tools to equip all readers to make decisions that may foster a fairer, more sustainable global system.