416  14

  ,          .  
,   ,       ,    
   .

"     ,     ,  -
 .     .  : Richard J. Kish and James Greenleaf, Teaching How
Mortgage Pass-Through Securities Are Priced, Financial Practice and Education,?!, no. 1 (Spring/Summer
1993), pp. 85-94.

12 1'993 Statistical Abstract ofthe United States, Table 466, p. 291.

13         (,    
      ,   ).

14 Fedora/Reserve Bulletin, November 1993, . 34.

15    . 13 (. . 13.4      ),  -
     2040%   
.

"'   1  1983 .   ,     -
 , . .: Hildy Richelson, Municipal Bonds: A Guide to the Various Forms of
Ownership, AAI1Journal, 13, no. 4 (April 1991), pp. 13-16.

17  ,       1  1993 .    -
    . . 13  : dark Blackman II and Donald Laubacher, The
Basics of Bond Discounts and Premiums, AA[ I Journal, 15, no. 3 (March 1993), pp. 2427;  IRS
Publications 550  1212.          
     ,      -
.    -  ,     
        .

18 New York Stock Exchange, Fact Book 1992 Data, pp. 44, 48.

19         ,   -
  .   ,   .  ,  
,         .

30   ARPS  DARPS . : Michael J. Alderson, Keith . Brown, and Scott L. Lummer,
Dutch Auction Rate Preferred Stock, Financial Management, 16, no. 2 (Summer 1987), pp. 6873. .
: Michael J. Alderson and Donald R. Fraser, Financial Innovations and Excesses Revisited: The Case
of Auction Rate Preferred Stock, Financial Management, 22, no. 2 (Summer 1993), pp. 6175.

21 Federal Reserve Bulletin, November 1993, p. A34.

22  ,  -   20  80%   -
,  .      20% ,  
70%     ,        80% ,  -
    .

 

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