The economics of money, banking, and financial markets

CHAPTER 5 APPENDIX 1

Models of Asset Pricing

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CHAPTER 5 APPENDIX 2

Applying the Asset Market Approach to a Commodity Market: The Case of Gold 

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Contents in Detail 

xv

CHAPTER 5 APPENDIX 3

Loanable Funds Framework 

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CHAPTER 6

The Risk and Term Structure of Interest Rates 

117

Risk Structure of Interest Rates ................................................................................................117

Default Risk ........................................................................................................................ 117

FYI  Conflicts of Interest at Credit-Rating Agencies and the Global Financial Crisis  121

APPLICATION

  The Global Financial Crisis and the Baa-Treasury Spread  122

Liquidity ............................................................................................................................ 122

Income Tax Considerations ................................................................................................ 123

Summary ............................................................................................................................ 124

APPLICATION

  Effects of the Obama Tax Increase on Bond Interest Rates  124

Term Structure of Interest Rates ..............................................................................................125