Ebook: Microeconomic Risk Management and Macroeconomic Stability

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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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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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.

Content:
Front Matter....Pages i-xv
Front Matter....Pages 1-1
Introduction....Pages 3-11
Front Matter....Pages 14-14
Backwardation and Optimal Hedging Demand in an Expected Utility Hedging Model....Pages 15-30
Mean-Variance Versus Minimum-Variance Hedging....Pages 31-48
Front Matter....Pages 50-50
Corporate Risk Management in Balance-Sheet Triggered Currency Crises....Pages 51-86
Arbitrage Pressure, Positive Feedback Speculation, Selective Hedging, and Economic Stability: An Empirical Analysis and Catastrophe Modelling....Pages 87-119
Conclusions....Pages 121-123
Back Matter....Pages 125-144

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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.

Content:
Front Matter....Pages i-xv
Front Matter....Pages 1-1
Introduction....Pages 3-11
Front Matter....Pages 14-14
Backwardation and Optimal Hedging Demand in an Expected Utility Hedging Model....Pages 15-30
Mean-Variance Versus Minimum-Variance Hedging....Pages 31-48
Front Matter....Pages 50-50
Corporate Risk Management in Balance-Sheet Triggered Currency Crises....Pages 51-86
Arbitrage Pressure, Positive Feedback Speculation, Selective Hedging, and Economic Stability: An Empirical Analysis and Catastrophe Modelling....Pages 87-119
Conclusions....Pages 121-123
Back Matter....Pages 125-144
....