Money, Banking and Financial Markets

by Ball, Laurence

• ISBN13: 9781429244091
• ISBN10: 1429244097
• Edition: 2nd
• Format: Hardcover
• Copyright: 2011-02-25
• Publisher: Worth Publishers

Summary

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.

Author Biography

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