{"product_id":"financial-economics-isbn-9780262046848","title":"Financial Economics","description":"\u003cb\u003eA comprehensive reference for financial economics, balancing theoretical explanations, empirical evidence, and the practical relevance of knowledge in the field.\u003cbr\u003e \u003c\/b\u003e\u003cbr\u003e\u003cbr\u003eThis volume offers a comprehensive, integrated treatment of financial economics, tracking the major milestones in the field and providing methodological tools. Doing so, it balances theoretical explanations, empirical evidence, and practical relevance. It illustrates nearly a century of theoretical advances with a vast array of models, showing how real phenomena (and, at times, market practice) have helped economists reformulate existing theories. Throughout, the book offers examples and solved problems that help readers understand the main lessons conveyed by the models analyzed. The book provides a unique and authoritative reference for the field of financial economics.\u003cbr\u003e \u003cbr\u003ePart I offers the foundations of the field, introducing asset evaluation, information problems in asset markets and corporate finance, and methods of statistical inference. Part II explains the main empirical facts and the challenges these pose for financial economists, which include excess price volatility, market liquidity, market dysfunctionalities, and the countercyclical behavior of market volatility. Part III covers the main instruments that protect institutions against the volatilities and uncertainties of capital markets described in part II. Doing so, it relies on models that have become the market standard, and incorporates practices that emerged from the 2007–2008 financial crisis. \u003cbr\u003e Introduction 1\u003cbr\u003eI Foundations 15\u003cbr\u003e1 The Classic Capital Asset Pricing Model 17\u003cbr\u003e2 Arbitrage, Equilibrium, and Pricing 69\u003cbr\u003e3 Infinite Horizon Economics 107\u003cbr\u003e4 Continuous Time Models 157\u003cbr\u003e5 Information, Security Design, and Financial Contracting 261\u003cbr\u003e6 Taking Models to Data 313\u003cbr\u003eII Empirical Lessons and Market Inefficiencies 343\u003cbr\u003e7 Neoclassical Kernels and Puzzles 345\u003cbr\u003e8 Aggregate Fluctuations in Equity Markets 371\u003cbr\u003e9 Macrofinance 441\u003cbr\u003e10 Information and Other Market Frictions 563\u003cbr\u003eIII Asset Pricing and Reality 651\u003cbr\u003e11 Options and Volatility 653\u003cbr\u003e12 Engineering of Fixed Income Securities 759\u003cbr\u003e13 Interest Rates 857\u003cbr\u003e14 Risky Debt and Credit Derivatives 973\u003cbr\u003eIndex 1095“Antonio Mele has written an extraordinarily ambitious synthesis of financial economics. Within a single framework, the breadth of coverage is unparalleled: from financial econometrics to information economics, from continuous time finance to macrofinance, from aggregate stock markets to credit derivatives. This will be an invaluable reference for academic researchers, quantitative investment practitioners, and students of finance alike.” \u003cbr\u003e\u003cb\u003e—John Y. Campbell, Morton L. and Carole S. Olshan Professor of Economics, Harvard University\u003c\/b\u003e  \u003cbr\u003e\u003cbr\u003e“This book is a treatise of financial economics. It not only provides an integrated and broad perspective but also a valuable map that allows students and researchers to navigate the literature on asset pricing from its foundational beginnings to recent cutting-edge developments.”\u003cb\u003e\u003cbr\u003e\u003c\/b\u003e \u003cb\u003e—Markus Brunnermeier, Edwards S. Sanford Professor of Economics, Princeton University\u003c\/b\u003eAntonio Mele is Professor of Finance at the Università della Svizzera Italiana and Senior Chair of the Swiss Finance Institute and a Research Fellow at the Centre for Economic Policy Research in London.","brand":"The MIT Press","offers":[{"title":"Default Title","offer_id":46299721138405,"sku":"NP9780262046848","price":250.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780262046848.jpg?v=1767726878","url":"https:\/\/k12savings.com\/es\/products\/financial-economics-isbn-9780262046848","provider":"K12savings","version":"1.0","type":"link"}