Economics of the Swap Market

<p>First published in 1989 <i>The Economics of the Swap Market</i> looks at how the swap has become a commonplace tool for corporations throughout the OECD world to ‘lock-in’ interest rates on their borrowing. The aim of <i>The Economics of the Swap Market</i> is to contribute to a redressing of the balance. Subjects covered include both those conventionally falling within the scope of micro-economics and of macroeconomics beginning with an examination of the forces behind the take-off the swap market and a formal setting out of key arbitrage relationships which hold in equilibrium between the swap markets on international capital flow. </p>