Economics Of Money, Banking And Financial Markets, 9/E

by MISHKIN

• ISBN13: 9780321599797
• ISBN10: 0321599799
• Edition: 9th
• Format: Hardcover
• Copyright: 2010-01-01
• Publisher: PRENTICE HALL

Summary

The Economics of Money, Banking, and Financial Markets set the standard for money and banking courses when it published in its first edition, and it continues to be the worldwide market leader. The historic economic events and financial crises of late 2008 have changed the entire landscape of money and banking. Having just served as Governor of the Federal Reserve, only Mishkin has the unique insider's perspective needed to present the current state of money and banking and explain the latest debates and issues for today's readers.

Introduction: Why Study Money, Banking, and Financial Markets'; An Overview of the Financial System; What Is Money?

Financial Markets: Understanding Interest Rates; The Behavior of Interest Rates; The Risk and Term Structure of Interest Rates; The Stock Market, the Theory of Rational Expectations, and the Efficient Market Hypothesis.

Financial Institutions: An Economic Analysis of Financial Structure; Financial Crises and the Subprime Debacle; Banking and the Management of Financial Institutions; Economic Analysis of Financial Regulation; Banking Industry: Structure and Competition.

Central Banking and the Conduct of Monetary Policy: Structure of Central Banks and the Federal Reserve System; The Money Supply Process; Tools of Monetary Policy; What Should Central Banks Do' Monetary Policy Goals, Strategy, and Tactics.

International Finance and Monetary Policy: The Foreign Exchange Market; The International Financial System.

Monetary Policy: The Demand for Money; The ISLM Model; Monetary and Fiscal Policy in the ISLM Model; Aggregate Demand and Supply Analysis; Transmission Mechanisms of Monetary Policy: The Evidence; Money and Inflation; Rational Expectations: Implications for Policy.

For all readers interested in money, banking, and financial markets.

Author Biography

Frederic S. Mishkin is the Alfred Lerner Professor of Banking and Financial Institutions at the Graduate School of Business, Columbia University. He is also a Research Associate at the National Bureau of Economic Research, and from September 2006 to August 2008 was a member (governor) of the Board of Governors of the Federal Reserve System. He has also been a Senior Fellow at the FDIC Center for Banking Research, and past President of the Eastern Economic Association. Since receiving his PhD from the Massachusetts Institute of Technology in 1976, he has taught at the University of Chicago, Northwestern University, Princeton University, and University Columbia. He has also received an honorary professorship from the Peoples (Renmin) University of China. From 1994 to 1997 he was Executive Vice President and Director of Research at the Federal Reserve Bank of New York and an associate economist of the Federal Open Market Committee of the Federal Reserve System.

Table of Contents

Part I Introduction
1. Why Study Money, Banking, and Financial Markets?
2. An Overview of the Financial System
3. What Is Money?
 
Part II Financial Markets
4. Understanding Interest Rates
5. The Behavior of Interest Rates
6. The Risk and Term Structure of Interest Rates
7. The Stock Market, the Theory of Rational Expectations, and the Efficient Market Hypothesis
 
Part III Financial Institutions
8. An Economic Analysis of Financial Structure
9. Financial Crises and the Subprime Debacle
10. Banking and the Management of Financial Institutions
11. Economic Analysis of Financial Regulation
12. Banking Industry: Structure and Competition

Part IV Central Banking and the Conduct of Monetary Policy
13. Structure of Central Banks and the Federal Reserve System
14. The Money Supply Process
15. Tools of Monetary Policy
16. What Should Central Banks Do? Monetary Policy Goals, Strategy, and Tactics
 
Part V International Finance and Monetary Policy
17. The Foreign Exchange Market
18. The International Financial System
 
Part VI Monetary Policy
19. The Demand for Money
20. The ISLM Model
21. Monetary and Fiscal Policy in the ISLM Model
22. Aggregate Demand and Supply Analysis
23. Transmission Mechanisms of Monetary Policy: The Evidence
24. Money and Inflation
25. Rational Expectations: Implications for Policy