tailieunhanh - Financial Market

A financial market is a market in which people and entities can trade financial securities, commodities, and other fungible items of value at low transaction costsand at prices that reflect supply and demand. Securities include stocks and bonds, and commodities include precious metals or agricultural goods. | COWLES FOUNDATION For Research in Economics at Yale University MONOGRAPH 21 Financial Markets and Economic Activity EDITED BY Donald D. Hester and James Tobin Contributors WILLIAM c. BRAINARD ARTHUR M. OKUN RICHARD c. PORTER PETER E. SLOANE JAMES TOBIN John Wiley Sons Inc. NEW YORK - LONDON .