Empirical Analysis Of The Eu Term Structure Of Interest Rates

Empirical Analysis of the EU Term Structure of Interest Rates

Introduction of the Euro and the Monetary Policy of the European Central Bank

The Euro area is an extremely unique and important currency area for two reasons. First, it is the single largest currency area to be created in an industrialized region. In a sense, the Euro area is important as a test case for those contemplating the establishment of new currency areas in East Asia, North America or other industrialized regions. Second, it was established by sovereign states working as peers, who, despite various challenges, peacefully and autonomously decided to create a single currency area. In other words, the Euro area is very different from other currency areas created by countries formerly in colonial relationships with each other. Therefore, for regions emerging from a developing status and forming a currency area, the Euro area could serve as a model case.Marking the 10th anniversary of the creation of the European Central Bank (ECB) and the Euro, this invaluable book analyzes the monetary policy of the ECB — the guardian of the Euro — by using recently developed econometric methods. The analysis performed in this book marks a substantial contribution toward understanding the significance of the Euro area as well as the future of the Euro from an international perspective.

The Oxford Handbook of Quantitative Asset Management

Quantitative portfolio management has become a highly specialized discipline. Computing power and software improvements have advanced the field to a level that would not have been thinkable when Harry Markowitz began the modern era of quantitative portfolio management in 1952. In addition to raw computing power, major advances in financial economics and econometrics have shaped academia and the financial industry over the last 60 years. While the idea of a general theory of finance is still only a distant hope, asset managers now have tools in the financial engineering kit that address specific problems in their industry. The Oxford Handbook of Quantitative Asset Management consists of seven sections that explore major themes in current theoretical and practical use. These themes span all aspects of a modern quantitative investment organization. Contributions from academics and practitioners working in leading investment management organizations bring together the key theoretical and practical aspects of the field to provide a comprehensive overview of the major developments in the area.