The Yield Curve and Financial Risk Premia

Implications for Monetary Policy

  • Felix Geiger
Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 654)

Table of contents

  1. Front Matter
    Pages i-xiii
  2. Felix Geiger
    Pages 1-6
  3. Theoretical Foundations for Policy Analysis

    1. Front Matter
      Pages 7-7
    2. Felix Geiger
      Pages 9-41
    3. Felix Geiger
      Pages 83-114
  4. The Term Structure of Interest Rates and Monetary Policy Rules

    1. Front Matter
      Pages 115-115
  5. Financial Stability and Monetary Policy

    1. Front Matter
      Pages 195-195
    2. Felix Geiger
      Pages 197-263
  6. Felix Geiger
    Pages 265-268
  7. Felix Geiger
    Pages 269-272
  8. Felix Geiger
    Pages 279-281
  9. Felix Geiger
    Pages 283-288
  10. Back Matter
    Pages 289-314

About this book

Introduction

The determinants of yield curve dynamics have been thoroughly discussed in finance models. However, little can be said about the macroeconomic factors behind the movements of short- and long-term interest rates as well as the risk compensation demanded by financial investors. By taking on a macro-finance perspective, the book’s approach explicitly acknowledges the close feedback between monetary policy, the macroeconomy and financial conditions. Both theoretical and empirical models are applied in order to get a profound understanding of the interlinkages between economic activity, the conduct of monetary policy and the underlying macroeconomic factors of bond price movements. Moreover, the book identifies a broad risk-taking channel of monetary transmission which allows a reassessment of the role of financial constraints; it enables policy makers to develop new guidelines for monetary policy and for financial supervision of how to cope with evolving financial imbalances.

In recognition of his excellent thesis, the author received the Suedwestbank Award 2011.

  

Keywords

Financial stability Macro-finance models Monetary policy Systemic risk Term structure of interest rates

Authors and affiliations

  • Felix Geiger
    • 1
  1. 1., Department of EconomicsUniversity of HohenheimStuttgartGermany

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-642-21575-9
  • Copyright Information Springer-Verlag Berlin Heidelberg 2011
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Business and Economics
  • Print ISBN 978-3-642-21574-2
  • Online ISBN 978-3-642-21575-9
  • Series Print ISSN 0075-8442
  • About this book