LEADER 00886nam0-22003011i-450- 001 990000269830403321 005 20001010 035 $a000026983 035 $aFED01000026983 035 $a(Aleph)000026983FED01 035 $a000026983 100 $a20001010d--------km-y0itay50------ba 101 0 $aita 105 $ay-------001yy 200 1 $aMathematical Tools for Applied Multivariate Analysis$f(by) Paul E. Green with contributions by J. Douglas Carroll. 210 $aNew York$cAcademic Press$d1976 215 $aXIII,376 p., ill., 21 cm 676 $a516 700 1$aGreen,$bPaul E.$013757 702 1$aCarroll,$bJ.D. 801 0$aIT$bUNINA$gRICA$2UNIMARC 901 $aBK 912 $a990000269830403321 952 $a04 011-37$bCI$fDINCH 959 $aDINCH 996 $aMathematical Tools for Applied Multivariate Analysis$9118556 997 $aUNINA DB $aING01 LEADER 05101nam 22006495 450 001 9910409677003321 005 20251010082452.0 010 $a9783030392888 010 $a3030392880 024 7 $a10.1007/978-3-030-39288-8 035 $a(CKB)4100000010770997 035 $a(MiAaPQ)EBC6144678 035 $a(DE-He213)978-3-030-39288-8 035 $a(Perlego)3480402 035 $a(MiAaPQ)EBC6144645 035 $a(EXLCZ)994100000010770997 100 $a20200324d2020 u| 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aCapital Wars $eThe Rise of Global Liquidity /$fby Michael J. Howell 205 $a1st ed. 2020. 210 1$aCham :$cSpringer International Publishing :$cImprint: Palgrave Macmillan,$d2020. 215 $a1 online resource (xxii, 304 pages) $cillustrations 311 08$a9783030392871 311 08$a3030392872 320 $aIncludes bibliographical references and index. 327 $a1. Introduction: Capital Wars -- 2. Global Money -- 3. Synopsis: A Bigger, More Volatile World -- 4. The Liquidity Model -- 5. Real Exchange Adjustment -- 6. Private Sector (Funding) Liquidity -- 7. The Central Banks: Don't Fight the Fed, Don't Upset the ECB and Don't Mess with the PBoC -- 8. Cross-border Capital Flows -- 9. China and the Emerging Markets -- 10. The Liquidity Transmission Mechanism: Understanding Future Macro-valuation Shifts -- 11. Financial Crises and Safe Assets -- 12. The Financial Silk Road: Globalisation and the Eastwards Shift of Capital -- 13. Measuring Liquidity: The Global Liquidity Indexes -- 14. Conclusion: A High Water Mark?. 330 $aEconomic cycles are driven by financial flows, namely quantities of savings and credits, and not by high street inflation or interest rates. Their sweeping destructive powers are expressed through Global Liquidity, a $130 trillion pool of footloose cash. Global Liquidity describes the gross flows of credit and international capital feeding through the world?s banking systems and wholesale money markets. The huge jump in the volume of international financial markets since the mid-1980s has been boosted by deregulation, innovation and easy money, with financial globalisation now surpassing the peaks of integration reached before the First World War. Global Liquidity drives these markets: it is often determinant, frequently disruptive and always fast-moving. Barely one fifth of Wall Street?s huge gains over recent decades have come from earnings: rising liquidity and investors? appetite for riskier financial assets have propelled stock prices higher. Similar experiences are shared worldwide and even in emerging markets, such as India, flat earnings have not deterred waves of foreign money and domestic mutual funds from driving-up stock prices. Now with central banks actively pursuing quantitative easing policies, industrial corporations flush with cash and rising wealth levels among emerging market investors, the liquidity theory of investment has never been more important. International spill-overs of these rapacious cross-border flows sets off capital wars and exposes the unattractive face of liquidity called ?risk.? As the world grows bigger, it becomes ever more volatile. From the early 1960s onwards, the world economy and its financial markets have suffered from three broad types of shocks ? labour costs, oil and commodities, and global liquidity. Financial markets spin on fragile axes and the absence of liquidity often provides a warning of upcoming troubles. Global Liquidity is a much-discussed, but narrowly-researched and vaguely-defined topic. This book deeply explores the subject by clearly defining and measuring liquidity worldwide and by showing its importance for investors. The roles of central banks, shadow banking, the rise of Repo and growth of wholesale money are discussed. Additionally, covering the latest developments in China?s increasingly dominant financial economy, this book will appeal to practitioners, policy-makers, economists and academics, as well as those with a general interest in how financial markets work. 606 $aFinancial services industry 606 $aInternational finance 606 $aFinancial risk management 606 $aCapital market 606 $aFinancial Services 606 $aInternational Finance 606 $aRisk Management 606 $aCapital Markets 615 0$aFinancial services industry. 615 0$aInternational finance. 615 0$aFinancial risk management. 615 0$aCapital market. 615 14$aFinancial Services. 615 24$aInternational Finance. 615 24$aRisk Management. 615 24$aCapital Markets. 676 $a332.6 676 $a658.155 700 $aHowell$b Michael J$4aut$4http://id.loc.gov/vocabulary/relators/aut$0931546 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910409677003321 996 $aCapital Wars$92095508 997 $aUNINA