Asset Prices, Booms and Recessions

Financial Economics from a Dynamic Perspective

  • Willi¬†Semmler

Table of contents

  1. Front Matter
    Pages I-X
  2. Introduction

    1. Pages 1-5
  3. Money, Bonds and Economic Activity

    1. Front Matter
      Pages 7-7
  4. The Credit Market and Economic Activity

  5. The Stock Market and Economic Activity

  6. Asset Pricing and Economic Activity

  7. Foreign Exchange Market, Financial Instability and Economic Activity

About this book


The book studies the interaction of the financial market, economic activity and the macroeconomy from a dynamic perspective. The financial market to be studied here encompasses the money and bond market, credit market, stock market and foreign exchange market. Economic activity is described by the activity of firms, banks, households, governments and countries. The book shows how economic activity affects asset prices and the financial market and how asset prices and financial market volatility feed back to economic activity. The focus in this book is on theories, dynamic models and empirical evidence. Empirical applications relate to episodes of financial instability and financial crises of the U.S., Latin American, Asian as well as Euro-area countries. The book is not only useful for researchers and practitioners in the field of financial engineering, but is also very useful for researchers and practitioners in economics.


Asset Pricing Asset Pricing Model Asset Pricing beyond CAPM Bonds CAPM Dynamic Portfolio Decisions Financial Economics Financial Market Financial Market Dynamics Financial Markets Macroeconomics Portfolio

Authors and affiliations

  • Willi¬†Semmler
    • 1
    • 2
  1. 1.Department of Economics and Schwartz Center for Economic Policy Analysis Graduate FacultyNew School UniversityNew YorkUSA
  2. 2.Center of Empirical MacroeconomicsBielefeld UniversityBielefeldGermany

Bibliographic information

  • DOI
  • Copyright Information Springer-Verlag Berlin Heidelberg 2006
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Business and Economics
  • Print ISBN 978-3-540-28784-1
  • Online ISBN 978-3-540-24696-1
  • About this book