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Houthakker, Hendrik S.
Professor of Economics, Harvard University
Williamson, Peter J.
Professor EURASIA Centre, INSEAD
Print publication date: 1996 (this edition)
Published to Oxford Scholarship Online: November 2003 Print ISBN-13: 978-0-19-504407-2 |
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doi:10.1093/019504407X.003.0003
Abstract: The supply of securities is examined both in terms of the contractual characteristics and importance of each main type and the way in which the actual performance and supply of each over time is influenced by the behavior of issuers. The analysis presented is with respect to the USA. The securities explored include government securities – municipal bonds and bonds of foreign governments and international organizations; corporate securities – equities and senior debt, takeovers, bonds, junk bonds, convertible securities; mutual fund shares; mortgages and mortgage-backed securities. The chapter also includes discussion of the implications for the supply of securities of corporate financial policy, partnership units and business taxation, and claims on financial institutions.
Keywords: bonds, business taxation, claims, contractual characteristics, convertible securities, corporate financial policy, corporate securities, debt, equities, foreign bonds, government securities, junk bonds, mortgage-backed securities, mortgages, municipal bonds, mutual fund shares, partnership units, performance, securities, supply, takeovers, USA,
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