{"product_id":"9781137561381","title":"Transmission Channels of Financial Shocks to Stock, Bond, and Asset-Backed Markets: An Empirical Model","description":"\u003ch1\u003eTransmission Channels of Financial Shocks to Stock, Bond, and Asset-Backed Markets: An Empirical Model\u003c\/h1\u003e \u003ch2\u003eGuidolin, Massimo; Fabbrini, Viola; Pedio, Manuela\u003c\/h2\u003e \u003cp\u003eResearchers, 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.\u003c\/p\u003e \u003ch3\u003eDetails\u003c\/h3\u003e \u003cp\u003ePublished by: Palgrave Macmillan\u003c\/p\u003e \u003cp\u003ePublication Date: 2015-11-12\u003c\/p\u003e \u003cp\u003eFormat: Hardcover\u003c\/p\u003e \u003cp\u003eISBN-13: 9781137561381\u003c\/p\u003e \u003cp\u003eDOI: 10.1007\/978-1-137-56139-8\u003c\/p\u003e \u003cp\u003eDimensions: 216cm x140cm\u003c\/p\u003e \u003cp\u003ePages: 131\u003c\/p\u003e ","brand":"Palgrave Macmillan UK","offers":[{"title":"Default Title","offer_id":47692827787404,"sku":"9781137561381","price":49.49,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9781137561381.jpg?v=1776697467","url":"https:\/\/fh90cf-fv.myshopify.com\/products\/9781137561381","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}