{"product_id":"9781137561381","title":"Transmission Channels of Financial Shocks to Stock, Bond, and Asset-Backed Markets","description":"Researchers, policymakers and commentators have long debated the patterns through which adverse shocks in a few markets may quickly spread to a range of apparently disconnected financial markets causing widespread losses and turmoil. \n\n\nThis book uses modern linear and non-linear econometric methods to characterize how shocks to the yield of risky fixed income securities, such as sub-prime asset-backed or low-credit rating sovereign bonds, are transmitted to the yields in other markets. These include equity and corporate bond markets as well as relatively risk-free fixed income securities, such as highly rated asset-backed securities and sovereign bonds from core Eurozone countries. The authors analyse and compare the results from linear and non-linear models to identify and assess four distinct contagion channels characterizing both US and European financial markets. These include the correlated information, risk premium, flight-to-liquidity, and flight-to quality channels. The results of this study support the theory that both investors and policy-makers ought to pay special attention to liquidity and commonalities in the perceptions of the probabilities of default, as channels through which financial shocks propagate.\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cstrong\u003ePublication Year: \u003c\/strong\u003e2016\u003cbr\u003e\u003cstrong\u003eImprint: \u003c\/strong\u003ePalgrave Macmillan UK\u003cbr\u003e\u003cstrong\u003e\u003c\/strong\u003eFormat: H\u003cbr\u003e\u003cstrong\u003e\u003c\/strong\u003eWeight (Gram): 2863\u003cbr\u003e\u003cstrong\u003e\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003e\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003e\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003e\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003e\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003e\u003c\/strong\u003e\u003c\/p\u003e","brand":"Massimo Guidolin","offers":[{"title":"Default Title","offer_id":41278436049074,"sku":"9781137561381","price":85.79,"currency_code":"SGD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0502\/5382\/4178\/products\/1137561386.01_SCLZZZZZZZ.jpg?v=1636242606","url":"https:\/\/readabook.store\/products\/9781137561381","provider":"READABOOK BY ALKEM","version":"1.0","type":"link"}