This is a thoroughly updated edition of Dynamic Asset Pricing Theory, the standard text for
doctoral students and researchers on the theory of asset pricing and portfolio selection in …

Prices and yields of UK government zero‐coupon bonds are used to test alternative yield
curve estimation models. Zero‐coupon bonds permit a more pure comparison, as the …

The yield curve represents the relationship between the discount rates on a collection of
default-free future cash flows, such as the coupon and redemption payments on UK …