Forecasting Financial and Economic Cycles

Forecasting Financial and Economic Cycles pdf epub mobi txt 电子书 下载 2026

出版者:John Wiley & Sons
作者:Niemira
出品人:
页数:544
译者:
出版时间:1994-2-7
价格:GBP 65.00
装帧:Hardcover
isbn号码:9780471845447
丛书系列:
图书标签:
  • 经济预测
  • 金融周期
  • 经济周期
  • 时间序列分析
  • 计量经济学
  • 投资策略
  • 金融建模
  • 宏观经济学
  • 预测分析
  • 风险管理
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具体描述

Gain the knowledge and skills that can help you exploit instability. Forecasting Financial and Economic Cycles No book can help you construct foolproof forecasting systems that will ensure you’ll accurately predict economic turning points every time. But with Niemira and Klein’s Forecasting Financial and Economic Cycles on hand, you’ll be able to significantly strengthen your ability to measure, monitor, and forecast important fluctuations. Part history, it provides you with essential background material on the characteristics and causes of economic volatility. It offers accessible coverage of the classical business cycle, the five basic types of economic cycles as determined by leading economists, and evolving ideas on the forces driving instability—ranging from simple unicausal theories, more complex Keynesian theory, to new classical macroeconomics. In addition, its concise review of America’s economic past highlights the lessons that can be learned from the various cycles experienced since shortly before World War II. Part handbook, Forecasting Financial and Economic Cycles presents the full spectrum of statistical techniques used to measure cycles, trends, seasonal patterns, and other vital changes, offering you step-by-step guidance on applying a specific method and detailing its uses and limitations. It goes on to show how you can adapt particular techniques to assess, track, and predict: Industry cycles—including an objective, tailor-made forecasting tool Regional business cycles—including a survey of regional indicators International business cycles—with an international business cycle chronology Inflation cycles—plus "12 little-known facts" about this complex cycle Financial cycles—covering credit, monetary, and interest rate cycles Stock market cycles—with advice on achieving more disciplined tradingBased on outstanding scholarship and years of practical experience, Forecasting Financial and Economic Cycles will serve as an invaluable tool for practitioners like you whose decision-making—and profit margin—depend on accurately assessing today’s often uncertain economic climate. "Forecasting Financial and Economic Cycles provides a lively survey of the many ways that cyclical economic activity has been dissected and analyzed. With this book, an astute reader may even be able to anticipate the next cyclical turn." —Samuel D. Kahan Chief Economist Fuji Securities, Inc. "The definitive book on the most important and enduring feature of an often mist-bound economic landscape: the business cycle." —Alfred L. Malabre, Jr. Economics Editor The Wall Street Journal "Niemira and Klein cover both the theory of economic cycles and methods for forecasting them. They provide one of the most comprehensive and current reviews of academic studies of economic cycles to be found anywhere." —Anthony F. Herbst Professor of Finance The University of Texas at El Paso "This book succeeds as a comprehensive, balanced, and accessible treatment of fluctuations in economic and financial activity. It should prove useful to all those in industry and finance who wish to understand and analyze the trends and changes in the modern dynamic economy." —Victor Zarnowitz Professor Emeritus of Economics and Finance University of Chicago

好的,这是一本关于金融和经济周期预测的图书简介,内容详实,不包含您提到的特定书名,力求自然流畅,无刻意修饰: --- 书名:宏观经济动力学与金融市场前瞻:洞察周期波动 作者: [此处应为作者名,为保持通用性,暂不填写] 出版社: [此处应为出版社名,为保持通用性,暂不填写] 书籍简介: 在瞬息万变的全球经济图景中,理解和预测经济周期的运行规律,是制定稳健投资策略与审慎宏观调控政策的关键基石。本书深入剖析了驱动经济增长与衰退、金融繁荣与危机的内在机制,旨在为专业人士、政策制定者以及严肃的投资者提供一套系统化、多维度的分析框架。 本书并非简单的历史回顾,而是聚焦于动力学过程本身。我们首先探讨了经济活动在不同阶段的特征,从复苏初期的温和扩张,到繁荣期的产能饱和与投机升温,再到衰退期的需求萎缩与去杠杆化。核心章节详细阐述了商业周期理论的演变,包括早期的熊彼特创新理论、凯恩斯有效需求理论,以及更现代的真实经济周期(RBC)模型和新凯恩斯主义模型,并着重评估了这些理论在解释当前复杂市场现象时的适用性与局限。 理解金融市场在周期中的作用至关重要。本书将大量的篇幅投入到金融加速器效应的机制研究中。我们分析了信贷扩张如何放大经济上行,以及资产负债表衰退如何深化经济下行。具体而言,我们考察了银行信贷的供给与需求如何受利率环境和风险偏好的双重影响,以及影子银行体系在周期末端的风险累积过程。书中对资产定价模型在不同周期阶段的表现进行了深入比较,例如,在低利率环境下,价值型股票与成长型股票的表现差异;以及在流动性紧缩时期,固定收益市场的结构性变化。 本书的一大亮点是对前瞻性指标的综合运用。我们超越了传统的滞后指标(如失业率)和同步指标(如GDP总量),重点介绍了如何构建和解读具有预测价值的领先指标组合。这包括对收益率曲线形态的精细分析——特别是短期与长期国债利差的倒挂及其与经济衰退的关联性;对企业库存/销售比率变化的敏感追踪;以及对消费者信心指数、制造业采购经理商指数(PMI)等调查性数据的异质性分析,即分析不同行业和规模企业的PMI分项数据所揭示的不同周期阶段信号。 在全球化背景下,跨国传导机制是周期分析中不可忽视的一环。本书专门设立章节讨论了全球贸易失衡、资本跨境流动对各国国内周期的影响。例如,当主要经济体同步收紧货币政策时,对新兴市场的资本外流压力如何被量化;以及全球供应链瓶颈对核心通胀的结构性影响。我们运用溢出效应模型来模拟一个主要经济体(如北美或欧元区)的衰退如何通过贸易和金融渠道向其他地区扩散。 此外,本书对政策应对进行了批判性评估。中央银行在管理周期中的角色已日益复杂化。我们详细分析了量化宽松(QE)和量化紧缩(QT)的机制,及其对风险资产和通胀预期的影响。对于财政政策,本书考察了财政乘数在不同经济环境下(如高债务水平与低通胀时期)的变化,以及财政刺激对长期生产率的影响。政策制定者在面对“滞胀”或“资产泡沫”情景时的权衡取舍,是书中反复探讨的案例研究重点。 本书的实践价值体现在对情景分析的强调。我们不提供单一的“未来预测”,而是构建一系列基于不同宏观假设的可能路径。读者将学习如何根据当前数据的演变,将经济状态置于“软着陆”、“硬着陆”、“滞胀”或“低增长陷阱”等不同情景中,并据此调整投资组合的久期、信用质量和部门配置。 本书的结构严谨,论证充分,结合了最新的计量经济学工具与经典的经济学理论,旨在培养读者一种结构性思维,而非仅仅依赖单一模型的黑箱输出。它鼓励读者批判性地审视市场共识,理解周期波动背后的深层结构性力量,从而在不确定性中把握机会,规避系统性风险。这是一本面向深度思考者的指南,帮助他们穿越市场迷雾,建立对宏观经济复杂性的深刻洞察。 ---

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