Economics of Money, Banking and Financial Markets / Edition 9

Economics of Money, Banking and Financial Markets / Edition 9

by Frederic S. Mishkin
     
 

What's new about Mishkin's The Economics of Money, Banking, and Financial Markets, Fifth Edition? Substantially revised, expanded coverage of key topics, including central banking and the conduct of monetary policy, with new, high-interest "Inside the Fed" boxes; money and economic activity, focusing on the transmission mechanisms of monetary policy and featuring… See more details below

Overview

What's new about Mishkin's The Economics of Money, Banking, and Financial Markets, Fifth Edition? Substantially revised, expanded coverage of key topics, including central banking and the conduct of monetary policy, with new, high-interest "Inside the Fed" boxes; money and economic activity, focusing on the transmission mechanisms of monetary policy and featuring in-depth discussion of the credit view; theory of rational expectations and efficient capital markets; new trends in banking regulation and supervision; all-new chapter on financial derivatives - forwards, futures, swaps, and options; complete integration of international topics in the text narrative, as well as the revision of key chapters for an enhanced international focus; increased applications orientation throughout, including more than fifty applications woven into the text; streamlined organization for a smoother topical flow; and new full-color PowerPoint electronic transparencies to support your lectures, featuring all the book's figures and tables plus the Lecture Notes from the Instructor's Resource Manual.

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Product Details

ISBN-13:
9780321599797
Publisher:
Prentice Hall
Publication date:
07/07/2009
Edition description:
Older Edition
Pages:
756
Product dimensions:
8.80(w) x 10.10(h) x 1.10(d)

Meet the Author

Frederic S. Mishkin

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, co-director of the U.S. Monetary Policy Forum, a member of the Squam Lake Working Group on Financial Reform, and past president of the Eastern Economics Association. Since receiving his Ph.D. from the Massachusetts Institute of Technology in 1976, he has taught at the University of Chicago, Northwestern University, Princeton University, and Columbia. He has also received an honorary professorship from the People’s (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. From September 2006 to August 2008, he was a member (governor) of the Board of Governors of the Federal Reserve System.

Professor Mishkin’s research focuses on monetary policy and its impact on financial markets and the aggregate economy. He is the author of more than twenty books including Macroeconomics: Policy and Practice, Second Edition (Pearson, 2015); Financial Markets and Institutions, Eighth Edition (Pearson, 2015); Monetary Policy Strategy, (MIT Press, 2007); The Next Great Globalization: How Disadvantaged Nations Can Harness Their Financial Systems to Get Rich (Princeton University Press, 2006); Inflation Targeting: Lessons from the International Experience (Princeton University Press, 1999); Money, Interest Rates, and Inflation (Edward Elgar, 1993); and A Rational Expectations Approach to Macroeconometrics: Testing Policy Ineffectiveness and Efficient Markets Models (University of Chicago Press, 1983). In addition, he has published more than 200 articles in such journals as American Economic Review, Journal of Political Economy, Econometrica, Quarterly Journal of Economics, Journal of Finance, and Journal of Monetary Economics.

Professor Mishkin has served on the editorial board of American Economic Review and has been an associate editor at Journal of Business and Economic Statistics, the Journal of Applied Econometrics, Journal of Economic Perspectives, Journal of International Money and Finance, and Journal of Money, Credit and Banking; he also served as the editor of the Federal Reserve Bank of New York’s Economic Policy Review. He is currently an associate editor (member of the editorial board) at five academic journals, including International Finance; Finance India; Review of Development Finance, Borsa Economic Review and Emerging Markets, Finance and Trade. He has been a consultant to the Board of Governors of the Federal Reserve System, the World Bank, and the International Monetary Fund, as well as to many central banks throughout the world. He was also a member of the International Advisory Board to the Financial Supervisory Service of South Korea and an advisor to the Institute for Monetary and Economic Research at the Bank of Korea. Professor Mishkin was a Senior Fellow at the Federal Deposit Insurance Corporation’s Center for Banking Research and was an academic consultant to and serves on the Economic Advisory Panel of the Federal Reserve Bank of New York.

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Table of Contents

Pt. IIntroduction1
1Why Study Money, Banking, and Financial Markets?3
2An Overview of the Financial System20
3What is Money?48
Pt. IIFinancial Markets67
4Understanding Interest Rates69
5Portfolio Choice94
6The Behavior of Interest Rates104
7The Risk and Term Structure of Interest Rates143
8The Foreign Exchange Market165
Pt. IIIFinancial Institutions193
9Economic Analysis of Banking Structure195
10The Banking Firm and the Management of Financial Institutions226
11Banking Industry: Structure and Competition264
12Economic Analysis of Banking Regulation296
13Nonbank Financial Institutions332
14Financial Derivatives354
Pt. IVCentral Banking and the Conduct of Monetary Policy387
15Structure of Central Banks and the Federal Reserve System389
16Multiple Deposit Creation and the Money Supply Process414
17Determinants on the Money Supply435
18Tools of Monetary Policy458
19Conduct of Monetary Policy: Goals and Targets474
20International Financial System502
Pt. VMonetary Theory527
21The Demand for Money529
22The Keynesian Framework and the ISLM Model555
23Monetary and Fiscal Policy in the ISLM Model580
24Aggregate Demand and Supply Analysis603
25Transmission Mechanisms of Monetary Policy: Evidence629
26Money and Inflation659
27Theory of Rational Expectations and Efficient Capital Markets686
28Rational Expectations: Implications for Policy710

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