Chapter_18　Financial Markets and Asset Prices多恩布什宏观经济学（教学课件）PPT.pptVIP

Introduction Financial markets link the macroeconomy and government policy directly to the lives of everyday people Changes in interest rates affect our ability to finance a home, car Movements in the stock market determine the value of pensions In this chapter we examine the behavior of three financial markets: Bond market Stock market Foreign exchange market Interest Rates: Long and Short Term Interest rates summarize the promised repayment terms on bonds, loans → not just one interest rate Interest rates differ according to: Credit worthiness of issuer Tax treatments Risk Term Other fact