{"product_id":"transmission-channels-of-financial-shocks-massimo-guidolin-9781137561381","title":"Transmission Channels of Financial Shocks to Stock, Bond, and Asset-Backed Markets: An Empirical Model","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. This 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.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Massimo Guidolin, Viola Fabbrini, Manuela Pedio\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 1137561386\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9781137561381\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Palgrave MacMillan\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 11\/12\/2015\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 131\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 0.73lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 8.50h x 5.50w x 0.50d","brand":"Massimo Guidolin","offers":[{"title":"Hardcover","offer_id":47200132661503,"sku":"9781137561381","price":54.99,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.whiterainbookhouse.com\/products\/transmission-channels-of-financial-shocks-massimo-guidolin-9781137561381","provider":"WR Book House","version":"1.0","type":"link"}