This text makes accessible the most important methodological advances in bond evaluation from the past twenty years. With uncommon precision and a strong emphasis on the underlying economic fundamentals, Olivier de La Grandville presents a unified framework for understanding the basic tools of bond evaluation, including duration, convexity, and immunization.Among the book's most valuable contributions is a general immunization theorem that can be used by practitioners to protect investors against any change in the structure of spot interest rates. Also of note is the detailed presentation of the Heath-Jarrow-Morton model and a discussion of its relationships with classical immunization schemes. Each chapter is followed by a series of questions, problem sets, and projects; detailed solutions to all of them appear at the end of the book. Although the treatment is thorough and rigorous, the presentation throughout the book is intuitive.
Buy Bond Pricing and Portfolio Analysis book by Olivier de la Grandville from Australia's Online Bookstore, Boomerang Books.
(229mm x 178mm x 30mm)
Publisher: MIT Press Ltd
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Author Biography - Olivier de la Grandville
Julian Savulescu, Ph.D., is Uehiro Chair in Applied Ethics at the University of Oxford and the Director of the Oxford Centre for Applied Ethics. He is Head of the Melbourne-Oxford Stem Cell Collaboration,devoted to examining the ethical implications of cloningand embryonic stem cell research. Dr. Savulescu is Editor of theJournal of Medical Ethics. He has published articles in the British Medical Journal, Lancet, Australasian Journal of Philosophy, Bioethics, The American Journal of Bioethics, and the Medical Journal of Australia.