International Financial Markets: Integration, Efficiency and Expectations - Tapa dura

This book considers the interaction of the real and financial sectors of the economy. It studies the relation between theoretical models and the actual, and asks how the the functioning of national and international capital markets should be evaluated. The book begins with an introduction laying out the issues in a non-technical way and summarizing the main arguments of the book. Succeeding chapters deal with the many complexities of the financial markets. The book is aimed at financial practitioners, academics and students.

The important connection between financial processes and the macroeconomic environment has been revealed in some of today's most inventive economic analysis. Areas of current interest include stock market rationality, expectations and the term structure of interest rates, financial market volatility, and the business cycles debate. This new series will provide a context for continuing research that not only unites financial and macroeconomics, but ramifies into the constituent fields themselves. Professors Summers and Merton share editorial responsibility for the series as a whole, while lending individual attention to their respective special areas.