While the determinants of firms’ optimal hedging strategies on the micro level are well understood, there is rarely any literature dealing with macroeconomic consequences of microeconomic risk management. This book is concerned with the impact of diverse hedging policies on macroeconomic stability. It addresses this issue by employing theoretical as well as empirical methods. INDICE: Part I: Preliminary Explorations: Introduction.- Part II: A Micro View: Optimal Risk Management: Backwardation and Optimal Hedging Demand in an Expected Utility Hedging Model; Mean- versus Minimum-Variance Hedging.- Part III: A Macro View: Economic Stability: Corporate Risk Management in Balance-Sheet Triggered Currency Crisis; Arbitrage Pressure, Positive Feedback Speculation, Selective Hedging, and Economic Stability: An Empirical Analysis and Catastrophe Modelling.- Conclusions.
- ISBN: 978-3-642-01564-9
- Editorial: Springer
- Encuadernacion: Rústica
- Páginas: 200
- Fecha Publicación: 01/07/2009
- Nº Volúmenes: 1
- Idioma: Inglés