Equilibrium Interest Rate and Liquidity Premium Under Proportional Transactions Costs (Classic Reprint) - Couverture souple

Dimitri Vayanos

9781332245437: Equilibrium Interest Rate and Liquidity Premium Under Proportional Transactions Costs (Classic Reprint)

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ISBN 10 : 1332245439 ISBN 13 : 9781332245437

Editeur : Forgotten Books, 2018

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�diteur: Forgotten Books
Date d'�dition: 2018
Langue: anglais
ISBN 10: 1332245439
ISBN 13: 9781332245437
Reliure: Broch�
Nombre de pages: 73
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Equilibrium Interest Rate and Liquidity Premium Under Proportional Transactions

Dimitri Vayanos, Jean-Luc Vila

Edit� par Forgotten Books, 2018

ISBN 10 : 1332245439 ISBN 13 : 9781332245437

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Vendeur : Forgotten Books, London, Royaume-Uni

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Paperback. Etat : New. Print on Demand. This book examines the impact of transactions costs on asset returns and liquidity premiums in a general equilibrium framework. The author considers a dynamic model where agents face both life cycle and income uncertainty motives for trading. The book analyzes how these costs affect the liquidity premium, which is the difference between the rates of return on illiquid and liquid assets. The findings show that when transactions costs increase, the rate of return on liquid assets decreases, while the rate of return on illiquid assets may increase or decrease. The liquidity premium also increases in this scenario. The effects of transactions costs on both the rate of return on the liquid asset and the liquidity premium, are stronger the higher the fraction of the illiquid assets in the economy. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. N� de r�f. du vendeur 9781332245437_0

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