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Working from a macro framework based on the Fed's use of interest rate as its major policy instrument, Ball presents the core concepts necessary to understand the problems affecting the stock market, and the causes of recessions and banking crises. Underlying this framework are the intellectual foundations for the Fed's inflation targeting using the dynamic consistency problem facing policymakers.
Laurence Ball is Professor of Economics at Johns Hopkins University. He holds a Ph.D. in economics from the Massachusetts Institute of Technology and a B.A. in economics from Amherst College. Professor Ball is a Research Associate of the ¬National Bureau of Economic Research and has been a visiting scholar at the Federal Reserve, the Bank of Japan, the Central Bank of Norway, the Reserve Bank of Australia, and the Hong Kong Monetary Authority. His academic honors include the Houblon-Norman Fellowship (Bank of England), a Professorial Fellowship in Monetary Economics (Victoria University of Wellington and ¬Reserve Bank of New Zealand), the NBER Olin Fellowship, and the Alfred P. Sloan Research Fellowship. He is the coauthor with N. Gregory Mankiw of Macroeconomics and the Financial System (Worth Publishers). Professor Ball lives in Baltimore with his wife, Patricia, and their son, Leverett.
Table of Contents
PART I FOUNDATIONS 1 The Financial System 2 Money and Central Banks
PART II FINANCIAL MARKETS 3 Asset Prices and Interest Rates 4 What Determines Interest Rates? 5 Securities Markets 6 Foreign Exchange Markets
PART III BANKING 7 Asymmetric Information in the Financial System 8 The Banking Industry 9 The Business of Banking 10 Bank Regulation
PART IV MONEY AND THE ECONOMY 11 The Money Supply and Interest Rates 12 Short-Run Economic Fluctuations 13 Economic Fluctuations, Monetary Policy, and the Financial System 14 Inflation and Deflation
PART V MONETARY POLICY
15 Policies for Economic Stability 16 Monetary Institutions and Strategies
17 Monetary Policy and Exchange Rates 18 Financial Crises
May 4, 2014
by Harold Levy
"Covers a lot of the typical topics you'd expect, with a little bit of macroeconomics topics tossed in for good measure."
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Money, Banking and Financial Markets: 5 out of 5 stars based on 1 user reviews.