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Macro markets [[electronic resource] ] : creating institutions for managing society's largest economic risks / / Robert J. Shiller
| Macro markets [[electronic resource] ] : creating institutions for managing society's largest economic risks / / Robert J. Shiller |
| Autore | Shiller Robert J |
| Pubbl/distr/stampa | Oxford, : Clarendon Press |
| Descrizione fisica | 1 online resource (267 p.) |
| Disciplina |
332.042
332/.042 |
| Collana | Clarendon lectures in economics |
| Soggetto topico |
Stock exchanges
Risk Markets |
| Soggetto genere / forma | Electronic books. |
| ISBN |
0-19-102729-4
1-281-97830-2 0-585-38284-0 9786611978303 0-19-152165-5 0-19-828782-8 |
| Formato | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Preface; Acknowledgements; Contents; 1 Introduction; The ideal: A world market for major income risks; Hedging income risk in today's markets; Markets as inventions; Markets as accidents of history; 2 Psychological Barriers; Research on psychology and risk perceptions; Lack of information and ambiguity; Demand for insurance by firms; Social-psychological factors; Gambling behavior; Speculative behavior; Promoting proper public use of macro markets; Psychological barriers: summing up; 3 Mechanisms for Hedging Long Streams of Income; Settlement based on cash-market asset price
Settlement based on measures of income rather than priceExchange-guaranteed securities markets for perpetual claims on indices; Perpetual futures; Rational speculative bubbles; Appendix to Chapter 3: Futures markets; 4 National Income and Labor Income Markets; Market structure and associated institutions; Problems enforcing payments of losses; Other users of aggregate income markets; Markets in actual or full-employment income?; Measurement issues; Measuring uncertainty about present values of incomes; Results with individual countries; World market return and betas; Cross hedging Interpretation of resultsAppendix to Chapter 4: Econometric methods; 5 Real Estate and Other Markets; Real estate; Markets in residential real estate and urban land; Effects of hedging markets on cash market inefficiency; Commercial real estate; Land containing natural resources; Unincorporated businesses and privately held corporations; Consumer and producer price-index futures; Aggregate price-level risk; Components of consumer or producer price indices; Agriculture; The use of agricultural futures by farmers; Intermediaries; Difficulties measuring the cost of hedging Inadequacy of short-term hedging to manage farmers' risk wellCreating long-term hedging markets in agriculture; Art and collectibles; Systematic approaches to finding other markets; 6 The Construction of Index Numbers for Contract Settlement; Analogies to other indices used to settle contracts; Extending chain indices to infrequently traded assets '; Basics of hedonic indices; Problems in measuring quality; Repeated measures and hedonics; Simplifying regression forms; Ordinary repeated-measures indices; Hedonic repeated-measures index; Arithmetic repeated-measures indices 7 Index Numbers: Issues and AlternativesExpected incidence of repeated measures: standard errors; Binomial model; Equal-representation model; Restrictions on coefficients of subject dummies and hedonic variables; Smoothing and improving indices: Bayesian methods; Choice of hedonic variables; Hedonic variables related to improvements; Hedonic variables related to depreciation; Market conditions as hedonic variables; Other models; Factor-analytic models: interaction effects; Selection bias corrections; Interpretation; 8 The Problem of Index Revisions Variance components in regression-per-period hedonics |
| Record Nr. | UNINA-9910465465903321 |
Shiller Robert J
|
||
| Oxford, : Clarendon Press | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
Macro markets : creating institutions for managing society's largest economic risks / / Robert J. Shiller
| Macro markets : creating institutions for managing society's largest economic risks / / Robert J. Shiller |
| Autore | Shiller Robert J |
| Pubbl/distr/stampa | Oxford, : Clarendon Press |
| Descrizione fisica | 1 online resource (xi, 254 pages) : illustrations |
| Disciplina |
332.042
332/.042 |
| Collana | Clarendon lectures in economics |
| Soggetto topico |
Stock exchanges
Risk Markets |
| ISBN |
0-19-102729-4
1-281-97830-2 0-585-38284-0 9786611978303 0-19-152165-5 0-19-828782-8 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Preface; Acknowledgements; Contents; 1 Introduction; The ideal: A world market for major income risks; Hedging income risk in today's markets; Markets as inventions; Markets as accidents of history; 2 Psychological Barriers; Research on psychology and risk perceptions; Lack of information and ambiguity; Demand for insurance by firms; Social-psychological factors; Gambling behavior; Speculative behavior; Promoting proper public use of macro markets; Psychological barriers: summing up; 3 Mechanisms for Hedging Long Streams of Income; Settlement based on cash-market asset price
Settlement based on measures of income rather than price; Exchange-guaranteed securities markets for perpetual claims on indices; Perpetual futures; Rational speculative bubbles; Appendix to Chapter 3: Futures markets; 4 National Income and Labor Income Markets; Market structure and associated institutions; Problems enforcing payments of losses; Other users of aggregate income markets; Markets in actual or full-employment income?; Measurement issues; Measuring uncertainty about present values of incomes; Results with individual countries; World market return and betas; Cross hedging Interpretation of results; Appendix to Chapter 4: Econometric methods; 5 Real Estate and Other Markets; Real estate; Markets in residential real estate and urban land; Effects of hedging markets on cash market inefficiency; Commercial real estate; Land containing natural resources; Unincorporated businesses and privately held corporations; Consumer and producer price-index futures; Aggregate price-level risk; Components of consumer or producer price indices; Agriculture; The use of agricultural futures by farmers; Intermediaries; Difficulties measuring the cost of hedging Inadequacy of short-term hedging to manage farmers' risk well; Creating long-term hedging markets in agriculture; Art and collectibles; Systematic approaches to finding other markets; 6 The Construction of Index Numbers for Contract Settlement; Analogies to other indices used to settle contracts; Extending chain indices to infrequently traded assets '; Basics of hedonic indices; Problems in measuring quality; Repeated measures and hedonics; Simplifying regression forms; Ordinary repeated-measures indices; Hedonic repeated-measures index; Arithmetic repeated-measures indices 7 Index Numbers: Issues and Alternatives; Expected incidence of repeated measures: standard errors; Binomial model; Equal-representation model; Restrictions on coefficients of subject dummies and hedonic variables; Smoothing and improving indices: Bayesian methods; Choice of hedonic variables; Hedonic variables related to improvements; Hedonic variables related to depreciation; Market conditions as hedonic variables; Other models; Factor-analytic models: interaction effects; Selection bias corrections; Interpretation; 8 The Problem of Index Revisions; Variance components in regression-per-period hedonics |
| Record Nr. | UNINA-9910792273303321 |
|
Shiller Robert J
|
||
| Oxford, : Clarendon Press | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
Macro markets : creating institutions for managing society's largest economic risks / / Robert J. Shiller
| Macro markets : creating institutions for managing society's largest economic risks / / Robert J. Shiller |
| Autore | Shiller Robert J |
| Edizione | [1st ed.] |
| Pubbl/distr/stampa | Oxford, : Clarendon Press |
| Descrizione fisica | 1 online resource (xi, 254 pages) : illustrations |
| Disciplina |
332.042
332/.042 339.5 |
| Collana | Clarendon lectures in economics |
| Soggetto topico |
Stock exchanges
Risk Markets |
| ISBN |
0-19-102729-4
1-281-97830-2 0-585-38284-0 9786611978303 0-19-152165-5 0-19-828782-8 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Preface; Acknowledgements; Contents; 1 Introduction; The ideal: A world market for major income risks; Hedging income risk in today's markets; Markets as inventions; Markets as accidents of history; 2 Psychological Barriers; Research on psychology and risk perceptions; Lack of information and ambiguity; Demand for insurance by firms; Social-psychological factors; Gambling behavior; Speculative behavior; Promoting proper public use of macro markets; Psychological barriers: summing up; 3 Mechanisms for Hedging Long Streams of Income; Settlement based on cash-market asset price
Settlement based on measures of income rather than price; Exchange-guaranteed securities markets for perpetual claims on indices; Perpetual futures; Rational speculative bubbles; Appendix to Chapter 3: Futures markets; 4 National Income and Labor Income Markets; Market structure and associated institutions; Problems enforcing payments of losses; Other users of aggregate income markets; Markets in actual or full-employment income?; Measurement issues; Measuring uncertainty about present values of incomes; Results with individual countries; World market return and betas; Cross hedging Interpretation of results; Appendix to Chapter 4: Econometric methods; 5 Real Estate and Other Markets; Real estate; Markets in residential real estate and urban land; Effects of hedging markets on cash market inefficiency; Commercial real estate; Land containing natural resources; Unincorporated businesses and privately held corporations; Consumer and producer price-index futures; Aggregate price-level risk; Components of consumer or producer price indices; Agriculture; The use of agricultural futures by farmers; Intermediaries; Difficulties measuring the cost of hedging Inadequacy of short-term hedging to manage farmers' risk well; Creating long-term hedging markets in agriculture; Art and collectibles; Systematic approaches to finding other markets; 6 The Construction of Index Numbers for Contract Settlement; Analogies to other indices used to settle contracts; Extending chain indices to infrequently traded assets '; Basics of hedonic indices; Problems in measuring quality; Repeated measures and hedonics; Simplifying regression forms; Ordinary repeated-measures indices; Hedonic repeated-measures index; Arithmetic repeated-measures indices 7 Index Numbers: Issues and Alternatives; Expected incidence of repeated measures: standard errors; Binomial model; Equal-representation model; Restrictions on coefficients of subject dummies and hedonic variables; Smoothing and improving indices: Bayesian methods; Choice of hedonic variables; Hedonic variables related to improvements; Hedonic variables related to depreciation; Market conditions as hedonic variables; Other models; Factor-analytic models: interaction effects; Selection bias corrections; Interpretation; 8 The Problem of Index Revisions; Variance components in regression-per-period hedonics |
| Record Nr. | UNINA-9910812945303321 |
|
Shiller Robert J
|
||
| Oxford, : Clarendon Press | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||