Money, the Financial System, and the Economy
Hubbard demonstrates how we use economic tools to understand financial markets and institutions. In doing so, he helps students learn to interpret current events, predict future developments, and make better economic decisions. Introduction: Introducing Money and the Financial System; Money and the Payments System; Overview and the Financial System. Interest Rates: Interest Rates and Rates of Return; The Theory of Portfolio Allocation; Determining Market Interest Rates; Risk Structure and...
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This textbook introduces economic explanations for the organization of the financial system and the interconnection between the financial system and the economy. Hubbard (Columbia U.) stresses the application of theory in sections devoted to interest rates, financial markets, financial institutions, the money supply process and monetary policy, and the financial system and the macroeconomy. Annotation (c)2003 Book News, Inc., Portland, OR
1Introducing Money and the Financial System22Money and the Payments System143Overview of the Financial System354Interest Rates and Rates of Return665The Theory of Portfolio Allocation936Determining Market Interest Rates1127Risk Structure and Term Structure of Interest Rates1418The Foreign-Exchange Market and Exchange Rates1729Derivative Securities and Derivative Markets20410Information and Financial Market Efficiency22711Reducing Transactions and Information Costs25112What Financial Institutions Do27613The Business of Banking30714The Banking Industry34115Banking Regulation: Crisis and Response37216Banking in the International Economy40317The Money Supply Process42618Changes in the Monetary Base46219Organization of the Federal Reserve System48220Monetary Policy Tools50321The Conduct of Monetary Policy52922The International Financial System and Monetary Policy55623The Demand for Money59024Linking the Financial System and the Economy: The IS-LM-FE Model61325Aggregate Demand and Aggregate Supply64726Money and Output in the Short Run67727Information Problems and Channels for Monetary Policy70328Inflation: Causes and Consequences727
