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Osborne, Michael J (2014) Multiple interest rate analysis: theory and applications. Palgrave Macmillan. ISBN 9781137372765
Full text not available from this repository.Abstract
Multiple interest rate analysis studies all possible interest rates solving the time value of money equation. These interest rates include not only the orthodox interest rates of conventional economics, but also the unorthodox rates that are complex-valued and deeply negative, real-valued numbers. The analysis attempts to reverse the impact of four centuries’ neglect of these unorthodox interest rates by demonstrating their use and meaning. The unorthodox rates are incorporated into a variety of analyses by converting conventional time value of money equations containing the orthodox rates of interest into ‘dual’ expressions containing all rates. Dual expressions are employed to solve long-standing puzzles, eliminate anomalies, and draw revised conclusions about best practice and sound policy advice in various areas of economics and finance. The topics include retail and corporate finance, capital budgeting and investment appraisal, bond risk management, and capital theory.
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