Financial Markets and Institutions

by Mishkin, Frederic S.; Eakins, Stanley G.

• ISBN13: 9780321050649
• ISBN10: 0321050649
• Edition: 3rd
• Format: Hardcover
• Copyright: 1999-10-01
• Publisher: Pearson College Div

Summary

Fast becoming a market leader, the text emphasizes basic principles and organizes students' thinking about the structure, function, and management of markets and institutions. Whereas other texts are highly descriptive, Financial Markets and Institutions incorporates the financial practitioner's approach through its emphasis on an applied managerial perspective For the UG and MBA course in Financial Markets and Institutions and Money and Capital markets.sian financial crises, recent developments in financial consolidation, the newly-created European Central Bank, and the U.S. debate over social security.

Table of Contents

Contents in Detail	ix
Preface	xxvii
About the Author	xxxvii
About the Contributing Author	xxxviii
PART I INTRODUCTION	1	(34)
Why Study Financial Markets and Institutions?	3	(10)
Overview of the Financial System	13	(22)
PART II PRINCIPLES OF FINANCIAL MARKETS	35	(144)
Understanding Interest Rates	37	(41)
The Behavior of Interest Rates	78	(49)
The Risk and Term Structure of Interest Rates	127	(30)
The Theory of Efficient Capital Markets	157	(22)
PART III CENTRAL BANKING AND THE CONDUCT OF MONETARY POLICY	179	(70)
Structure of Central Banks and the Federal Reserve System	181	(24)
Conduct of Monetary Policy: Tools, Goals, and Targets	205	(44)
PART IV FINANCIAL MARKETS	249	(138)
The Money Markets	251	(28)
The Capital Markets	279	(30)
The Mortgage Markets	309	(22)
The Foreign Exchange Market	331	(31)
The International Financial System and Monetary Policy	362	(25)
PART V THE FINANCIAL INSTITUTIONS INDUSTRY	387	(230)
Theory of Financial Structure	389	(32)
The Banking Firm and Bank Management	421	(38)
Commercial Banking Industry: Structure and Competition	459	(30)
Thrifts: Savings and Loans and Credit Unions	489	(26)
Banking Regulation	515	(31)
Insurance Companies and Pension Funds	546	(28)
Finance Companies and Financial Conglomerates	574	(16)
Securities Firms	590	(27)
PART VI THE MANAGEMENT OF FINANCIAL INSTITUTIONS	617	(2)
Risk Management in Financial Institutions	619	(22)
Hedging with Financial Derivatives I: Forwards and Futures	641	(28)
Hedging with Financial Derivatives II: Options and Swaps	669
Glossary	G-1
Answers to Selected Questions and Problems	A-1
Index	I-1