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Securities Markets in the 1980s: The New Regime 1979-1984 Volume I Wigmore, Bar
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- Buy It NowSecurities Markets in the 1980s: The New Regime 1979-1984 Volume I Wigmore, Bar
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Located in: American Fork, Utah, United States
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eBay item number:195516619557
Item specifics
- Condition
- Acceptable
- Seller Notes
- “Missing dust cover. May be stock photo.”
- EAN
- 9780195106329
- ISBN
- 9780195106329
- Subject Area
- Business & Economics
- Publication Name
- Securities Markets in the 1980s : the New Regime 1979-1984volume I
- Item Length
- 9.3 in
- Publisher
- Oxford University Press, Incorporated
- Subject
- Finance / General, Economics / General, Industries / Financial Services, Investments & Securities / General
- Publication Year
- 1997
- Type
- Textbook
- Format
- Hardcover
- Language
- English
- Item Height
- 1.5 in
- Item Width
- 6.4 in
- Item Weight
- 27.3 Oz
- Number of Pages
- 432 Pages
About this product
Product Information
Securities Markets in the 1980s is the first of two volumes that provide a uniquely comprehensive history of stock, bond, and merger markets in the 1980s as well as the economic and policy environments in which they took place. This volume analyzes the dramatic recovery in the stock and bond markets and the surge in merger activity in the first half of the 1980s, following the dismal record of the 1970s. Author Barrie Wigmore demonstrates that the period from 1979 to 1984 was a sharp departure from the economic regime of the past decade. Wigmore expertly relates the change to the new policy regime created by the Reagan administration, Federal Reserve monetary policy, falling oil prices, and the strong dollar. Although the securities markets, the economy, and inflation were performing favorably by mid-decade, this book reveals the stress and pain that were required to position them so favorably--contrary to rational expectations theory. Stocks and bonds reached their nadir in 1982, there were persistent financial crises that had to be surmounted, and many capital goods and commodities industries contracted permanently. With a practitioner's eye for important inter-relationships, Wigmore reveals the impact of the Reagan administration on investor optimism and sorts out the influence of the Federal Reserve and the budget deficit on interest rates. He vividly recounts the crises that had to be surmounted in international and domestic finance, and provides unique insight into the role of antitrust policy, lower bank lending standards, and junk bonds in the merger boom. Wigmore also describes the roots of some of the decade's later speculative excesses in treasury bond trading, the futures markets, mortgage-backed securities, and the junk bond market. Written by a former general partner at Goldman Sachs, the insights this book offers into the workings of the securities markets will be of great interest to investors generally, academics and students in the field of finance, professionals in securities firms, and government policy makers.
Product Identifiers
Publisher
Oxford University Press, Incorporated
ISBN-10
0195106326
ISBN-13
9780195106329
eBay Product ID (ePID)
1079500
Product Key Features
Publication Name
Securities Markets in the 1980s : the New Regime 1979-1984volume I
Format
Hardcover
Language
English
Subject
Finance / General, Economics / General, Industries / Financial Services, Investments & Securities / General
Publication Year
1997
Type
Textbook
Subject Area
Business & Economics
Number of Pages
432 Pages
Dimensions
Item Length
9.3 in
Item Height
1.5 in
Item Width
6.4 in
Item Weight
27.3 Oz
Additional Product Features
LCCN
96-030659
Intended Audience
College Audience
Lc Classification Number
Hg4910.W426 1997
Volume Number
Vol. 1
Reviews
"From his vantage point at Goldman Sachs, Barrie Wigmore offers the readera panoramic view of the momentous changes that transformed Wall Street in theearly 1980s. His lively chronicle of the emergence of a new macroeconomic policyregime provides an essential backdrop to the stock market's resurgence. The newenvironment of low inflation and high growth, achieved by tight monetary policyand consequently high interest rates, created big losers and winners in themarket. Wigmore sorts through the thicket of factors that caused the stocks ofsome industries to boom and others to falter. His explorations expose thecomplex links between the new derivatives, mortgage-backed securities, junkbonds, the merger wave, and the SandL crisis. Thus, this work is an invaluableguide to the researcher, analyst, or historian of the securitiesmarkets."--Eugene N. White, Chairman of the Department of Economics, RutgersUniversity, "From his vantage point at Goldman Sachs, Barrie Wigmore offers the reader a panoramic view of the momentous changes that transformed Wall Street in the early 1980s. His lively chronicle of the emergence of a new macroeconomic policy regime provides an essential backdrop to the stock market'sresurgence. The new environment of low inflation and high growth, achieved by tight monetary policy and consequently high interest rates, created big losers and winners in the market. Wigmore sorts through the thicket of factors that caused the stocks of some industries to boom and others to falter.His explorations expose the complex links between the new derivatives, mortgage-backed securities, junk bonds, the merger wave, and the SandL crisis. Thus, this work is an invaluable guide to the researcher, analyst, or historian of the securities markets."--Eugene N. White, Chairman of theDepartment of Economics, Rutgers University, "Barrie Wigmore's book will be the definitive financial history of a tumultuous financial decade. The interactions between the financial and the real economy became ever more important, and this book provides a rare degree of insight into how they work."--Lawrence Summers, former NathanielRopes Professor of Political Economy at Harvard University, "Barrie Wigmore's book will be the definitive financial history of a tumultuous financial decade. The interactions between the financial and the real economy became ever more important, and this book provides a rare degree of insight into how they work."--Lawrence Summers, former Nathaniel Ropes Professor of Political Economy at Harvard University"From his vantage point at Goldman Sachs, Barrie Wigmore offers the reader a panoramic view of the momentous changes that transformed Wall Street in the early 1980s. His lively chronicle of the emergence of a new macroeconomic policy regime provides an essential backdrop to the stock market's resurgence. The new environment of low inflation and high growth, achieved by tight monetary policy and consequently high interest rates, created big losers and winners in the market. Wigmore sorts through the thicket of factors that caused the stocks of some industries to boom and others to falter. His explorations expose the complex links between the new derivatives, mortgage-backed securities, junk bonds, the merger wave, and the S&L crisis. Thus, this work is an invaluable guide to the researcher, analyst, or historian of the securities markets."--Eugene N. White, Chairman of the Department of Economics, Rutgers University"This is a very useful book for those seeking to understand the turbulent markets of the US in the 1980s. This period includes the deepest US recession since the Great Depression of the 1930s, the worst peacetime inflation experience this country has ever had, the highest interest rates, and some of the most severe upheavals ever seen in the financial sector. The book maintains a high scholarly level throughout, while at the same time showing a depth of understanding that only an active professional participant in the markets can give."--Robert J. Shiller, Stanley B. Resor Professor of Economics, Cowles Foundation for Research in Economics, Yale University, "Barrie Wigmore's book will be the definitive financial history of atumultuous financial decade. The interactions between the financial and the realeconomy became ever more important, and this book provides a rare degree ofinsight into how they work."--Lawrence Summers, former Nathaniel Ropes Professorof Political Economy at Harvard University, "This is a very useful book for those seeking to understand the turbulentmarkets of the US in the 1980s. This period includes the deepest US recessionsince the Great Depression of the 1930s, the worst peacetime inflationexperience this country has ever had, the highest interest rates, and some ofthe most severe upheavals ever seen in the financial sector. The book maintainsa high scholarly level throughout, while at the same time showing a depth ofunderstanding that only an active professional participant in the markets cangive."--Robert J. Shiller, Stanley B. Resor Professor of Economics, CowlesFoundation for Research in Economics, Yale University, "This is a very useful book for those seeking to understand the turbulent markets of the US in the 1980s. This period includes the deepest US recession since the Great Depression of the 1930s, the worst peacetime inflation experience this country has ever had, the highest interest rates, andsome of the most severe upheavals ever seen in the financial sector. The book maintains a high scholarly level throughout, while at the same time showing a depth of understanding that only an active professional participant in the markets can give."--Robert J. Shiller, Stanley B. Resor Professor ofEconomics, Cowles Foundation for Research in Economics, Yale University, "Barrie Wigmore's book will be the definitive financial history of a tumultuous financial decade. The interactions between the financial and the real economy became ever more important, and this book provides a rare degree of insight into how they work."--Lawrence Summers, former Nathaniel Ropes Professor of Political Economy at Harvard University "From his vantage point at Goldman Sachs, Barrie Wigmore offers the reader a panoramic view of the momentous changes that transformed Wall Street in the early 1980s. His lively chronicle of the emergence of a new macroeconomic policy regime provides an essential backdrop to the stock market's resurgence. The new environment of low inflation and high growth, achieved by tight monetary policy and consequently high interest rates, created big losers and winners in the market. Wigmore sorts through the thicket of factors that caused the stocks of some industries to boom and others to falter. His explorations expose the complex links between the new derivatives, mortgage-backed securities, junk bonds, the merger wave, and the S&L crisis. Thus, this work is an invaluable guide to the researcher, analyst, or historian of the securities markets."--Eugene N. White, Chairman of the Department of Economics, Rutgers University "This is a very useful book for those seeking to understand the turbulent markets of the US in the 1980s. This period includes the deepest US recession since the Great Depression of the 1930s, the worst peacetime inflation experience this country has ever had, the highest interest rates, and some of the most severe upheavals ever seen in the financial sector. The book maintains a high scholarly level throughout, while at the same time showing a depth of understanding that only an active professional participant in the markets can give."--Robert J. Shiller, Stanley B. Resor Professor of Economics, Cowles Foundation for Research in Economics, Yale University
Table of Content
1. Introduction2. The Change in Regimes: Fiscal and Monetary Policies3. The New Regime Revives the Common Stock Market4. The Underperforming Industries5. The Overperforming Industries6. U.S. Treasury Markets7. The Mortgage Securities Market8. The Corporate Bond Market9. The Merger and Acquisition Market10. ConclusionsNotesIndex
Copyright Date
1997
Dewey Decimal
332.63/2
Dewey Edition
20
Illustrated
Yes
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