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Finance, Banking, and Money

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Finance, Banking, and Money

This book is designed to help you internalize the basics of money and banking. There is a little math, some graphs, and some sophisticated vocabulary, but nothing terribly difficult, if you put your brain to it. The text’s most important goal is to get you to think for yourselves.

FinanceBusiness
Author
Anonymous
Publisher
LibreTexts
Source
LibreTexts
License
CC BY-NC-SA
Language
EN
Category
Economics
Read online Download PDF (open licence)
Contents· 159 sections
  1. 01: Money Banking and Your World
  2. 1.01: Dreams Dashed
  3. 1.02: Hope Springs
  4. 1.03: Suggested Browsing
  5. 1.04: Suggested Reading
  6. 02: The Financial System
  7. 2.01: Evil and Brilliant Financiers
  8. 2.02: Financial Systems
  9. 2.03: Asymmetric Information- The Real Evil
  10. 2.04: Financial Instruments
  11. 2.05: Financial Markets
  12. 2.06: Financial Intermediaries
  13. 2.07: Competition Between Markets and Intermediaries
  14. 2.08: Regulation
  15. 2.09: Suggested Reading
  16. 03: Money
  17. 3.01: Of Love Money and Transactional Efficiency
  18. 3.02: Better to Have Had Money and Lost It Than to Have Never Had Money at All
  19. 3.03: A Short History of Moolah
  20. 3.04: Commodity and Credit Monies
  21. 3.05: Measuring Money
  22. 3.06: Suggested Reading
  23. 04: Interest Rates
  24. 4.01: The Interest of Interest
  25. 4.02: Present and Future Value
  26. 4.03: Compounding Periods
  27. 4.04: Pricing Debt Instruments
  28. 4.05: Whats the Yield on That
  29. 4.06: Calculating Returns
  30. 4.07: Inflation and Interest Rates
  31. 4.08: Suggested Reading
  32. 05: The Economics of Interest-Rate Fluctuations
  33. 5.01: Interest Rate Fluctuations
  34. 5.02: Shifts in Supply and Demand for Bonds
  35. 5.03: Predictions and Effects
  36. 5.04: Suggested Reading
  37. 06: The Economics of Interest-Rate Spreads and Yield Curves
  38. 6.01: Interest-Rate Determinants I- The Risk Structure
  39. 6.02: The Determinants of Interest Rates II- The Term Structure
  40. 6.03: Suggested Reading
  41. 07: Rational Expectations Efficient Markets and the Valuation of Corporate Equities
  42. 7.01: The Theory of Rational Expectations
  43. 7.02: Valuing Corporate Equities
  44. 7.03: Financial Market Efficiency
  45. 7.04: Evidence of Market Efficiency
  46. 7.05: Suggested Reading
  47. 08: Financial Structure Transaction Costs and Asymmetric Information
  48. 8.01: The Sources of External Finance
  49. 8.02: Transaction Costs Asymmetric Information and the Free-Rider Problem
  50. 8.03: Adverse Selection
  51. 8.04: Moral Hazard
  52. 8.05: Agency Problems
  53. 8.06: Suggested Reading
  54. 09: Bank Management
  55. 9.01: The Balance Sheet
  56. 9.02: Assets Liabilities and T-Accounts
  57. 9.03: Bank Management Principles
  58. 9.04: Credit Risk
  59. 9.05: Interest-Rate Risk
  60. 9.06: Off the Balance Sheet
  61. 9.07: Suggested Reading
  62. 10: Innovation and Structure in Banking and Finance
  63. 10.01: Early Financial Innovations
  64. 10.02: Innovations Galore
  65. 10.03: Loophole Mining and Lobbying
  66. 10.04: Banking on Technology
  67. 10.05: Banking Industry Profitability and Structure
  68. 10.06: Suggested Reading
  69. 11: The Economics of Financial Regulation
  70. 11.01: Market Failures and Public Choice
  71. 11.02: The Great Depression as Regulatory Failure
  72. 11.03: The Savings and Loan Regulatory Debacle
  73. 11.04: Better but Still Not Good- U.S. Regulatory Reforms
  74. 11.05: Basel II Basel III and Dodd-Frank
  75. 11.06: Suggested Reading
  76. 12: Financial Derivatives
  77. 12.01: Derivatives and Their Functions
  78. 12.02: Forwards and Futures
  79. 12.03: Options and Swaps
  80. 12.04: Suggested Reading
  81. 13: Financial Crises- Causes and Consequences
  82. 13.01: Financial Crisis Taxonomies
  83. 13.02: Asset Bubbles
  84. 13.03: Financial Panics
  85. 13.04: Lender of Last Resort (LLR)
  86. 13.05: Bailouts and Resolutions
  87. 13.06: The Crisis of 2007-2009
  88. 13.07: Suggested Reading
  89. 14: Central Bank Form and Function
  90. 14.01: Americas Central Banks
  91. 14.02: The Federal Reserve Systems Structure
  92. 14.03: Other Important Central Banks
  93. 14.04: Central Bank Independence
  94. 14.05: Suggested Reading
  95. 15: The Money Supply Process and the Money Multipliers
  96. 15.01: The Central Banks Balance Sheet
  97. 15.02: Open Market Operations
  98. 15.03: A Simple Model of Multiple Deposit Creation
  99. 15.04: A More Sophisticated Money Multiplier for M1
  100. 15.05: The M2 Money Multiplier
  101. 15.06: Summary and Explanation
  102. 16: Monetary Policy Tools
  103. 16.01: The Federal Funds Market and Reserves
  104. 16.02: Open Market Operations and the Discount Window
  105. 16.03: The Monetary Policy Tools of Other Central Banks
  106. 16.04: Suggested Reading
  107. 17: Monetary Policy Targets and Goals
  108. 17.01: A Short History of Fed Blunders
  109. 17.02: Central Bank Goal Trade-offs
  110. 17.03: Central Bank Targets
  111. 17.04: The Taylor Rule
  112. 17.05: Suggested Reading
  113. 18: Foreign Exchange
  114. 18.01: The Economic Importance of Currency Markets
  115. 18.02: Determining the Exchange Rate
  116. 18.03: Long-Run Determinants of Exchange Rates
  117. 18.04: Short-Run Determinants of Exchange Rates
  118. 18.05: Modeling the Market for Foreign Exchange
  119. 18.06: Suggested Reading
  120. 19: International Monetary Regimes
  121. 19.01: The Trilemma or Impossible Trinity
  122. 19.02: Two Systems of Fixed Exchange Rates
  123. 19.03: The Managed or Dirty Float
  124. 19.04: The Choice of International Policy Regime
  125. 19.05: Suggested Reading
  126. 20: Money Demand
  127. 20.01: The Simple Quantity Theory and the Liquidity Preference Theory of Keynes
  128. 20.02: Friedmans Modern Quantity Theory of Money
  129. 20.03: The Policy Failure of the Modern Quantity Theory of Money
  130. 20.04: Suggested Reading
  131. 21: IS-LM
  132. 21.01: Aggregate Output and Keynesian Cross Diagrams
  133. 21.02: 21.2 The IS-LM Model
  134. 21.03: Suggested Reading
  135. 22: IS-LM in Action
  136. 22.01: Shifting Curves- Causes and Effects
  137. 22.02: Implications for Monetary Policy
  138. 22.03: Aggregate Demand Curve
  139. 22.04: Suggested Reading
  140. 23: Aggregate Supply and Demand and the Growth Diamond
  141. 23.01: Aggregate Demand
  142. 23.02: Aggregate Supply
  143. 23.03: Equilibrium Analysis
  144. 23.04: The Growth Diamond
  145. 23.05: Suggested Reading
  146. 24: Monetary Policy Transmission Mechanisms
  147. 24.01: Modeling Reality
  148. 24.02: How Important Is Monetary Policy
  149. 24.03: Transmission Mechanisms
  150. 24.04: Suggested Reading
  151. 25: Inflation and Money
  152. 25.01: Empirical Evidence of a Money-Inflation Link
  153. 25.02: Why Have Central Bankers So Often Gotten It Wrong
  154. 25.03: Suggested Reading
  155. 26: Rational Expectations Redux- Monetary Policy Implications
  156. 26.01: Rational Expectations
  157. 26.02: New Keynesians
  158. 26.03: Inflation Busting
  159. 26.04: Suggested Reading