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Lecture Financial institutions, instruments and markets (7/e): Chapter 13 - Christopher Viney, Peter Phillips

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Lecture Financial institutions, instruments and markets (7/e): Chapter 13 - Christopher Viney, Peter Phillips. In this chapter, you learned to: Describe the macroeconomic context of interest rate determination; explain the loanable funds approach to interest rate determination, including supply and demand variables for loanable funds, equilibrium and the effect of changes in variables on interest rates; understand yields, yield curves and term structures of interest rates, and apply the expectations theory, segmented markets theory and liquidity premium theory; explain the risk structure of interest rates and the impact of default risk on interest rates.. Cũng như các thư viện tài liệu khác được bạn đọc giới thiệu hoặc do sưu tầm lại và chia sẽ lại cho các bạn với mục đích tham khảo , chúng tôi không thu phí từ thành viên ,nếu phát hiện nội dung phi phạm bản quyền hoặc vi phạm pháp luật xin thông báo cho website ,Ngoài thư viện tài liệu này, bạn có thể tải Download tài liệu,đề thi,mẫu văn bản miễn phí phục vụ học tập Một ít tài liệu tải về mất font không hiển thị đúng, nguyên nhân máy tính bạn không hỗ trợ font củ, bạn download các font .vntime củ về cài sẽ xem được.

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Chapter 13 An introduction to interest rate determination and forecasting Copyright 2012 McGraw-Hill Australia Pty Ltd PPTs to accompany Financial Institutions, Instruments and Markets 7e by Viney and Phillips 13-1 Slides prepared by Peter Phillips Learning objectives • Describe the macroeconomic context of interest rate determination • Explain the loanable funds approach to interest rate determination, including supply and demand variables for loanable funds, equilibrium and the effect of changes in variables on interest rates • Understand yields, yield curves and term structures of interest rates, and apply the expectations theory, segmented markets theory and liquidity premium theory • Explain the risk structure of interest rates and the impact of default risk on interest rates Copyright 2012 McGraw-Hill Australia Pty Ltd PPTs to accompany Financial Institutions, Instruments and Markets 7e by Viney and Phillips 13-2 Slides prepared by Peter Phillips Chapter organisation 13.1 Macroeconomic context of interest rate determination 13.2 Loanable funds approach to interest rate determination 13.3 Term structure of interest rates 13.4 Risk Structure of interest rates 13.5 Summary Copyright 2012 McGraw-Hill Australia Pty Ltd PPTs to accompany Financial Institutions, Instruments and Markets 7e by Viney and Phillips 13-3 Slides prepared by Peter Phillips 13.1Macroeconomic context of interest rate determination • In most developed economies monetary policy actions are directed at influencing interest rates • By understanding what motivates a central bank in its implementation of interest rates policy: – financial market participants can anticipate changes in a government’s interest rate policy – lenders and borrowers can make better-informed decisions Copyright 2012 McGraw-Hill Australia Pty Ltd PPTs to accompany Financial Institutions, Instruments and Markets 7e by Viney and Phillips 13-4 Slides prepared by Peter Phillips 13.1Macroeconomic context of interest rate determination (cont.) • A central bank may increase interest rates if there is: – inflation above target range – excessive growth in GDP – a large deficit in the balance of payments – rapid growth in credit and debt levels – excessive ‘downward’ pressure on FX markets Copyright 2012 McGraw-Hill Australia Pty Ltd PPTs to accompany Financial Institutions, Instruments and Markets 7e by Viney and Phillips 13-5 Slides prepared by Peter Phillips ... - tailieumienphi.vn 1078846

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