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Financial Markets, Banking, and Monetary Policy (Wiley Finance Editions) - Hardcover

Simpson, Thomas D.

 
9781118872239: Financial Markets, Banking, and Monetary Policy (Wiley Finance Editions)

Inhaltsangabe

Praise for Financial Markets, Banking, and Monetary Policy
 
"A lucid treatment that takes on board shadow-banking, Dodd-Frank, the zero lower bound, and forward guidance. In short, all the key post-crisis issues."
 
--Anil Kashyap, Edward Eagle Brown Professor of Economics and Finance, University of Chicago
 
"The financial sector is a vital component of the US economic machinery. The Federal Reserve works within this sector to promote its congressional mandates of maximum employment and low inflation. Unfortunately, the contribution of the financial system to the economy's performance is not well understood. Students of standard college courses on money, banking, and monetary policy often find that the textbooks have not kept pace with the evolution of the financial sector, including the rise of securitized finance and the Federal Reserve's evolving monetary operations. Tom Simpson's book represents a huge step forward in this regard. His comprehensive exposition of the essential parts of the financial system and modern explanation of how the Federal Reserve supports the economy gives readers a much better understanding of the US financial system and the Federal Reserve."
 
--James Glassman, Managing Director and Head Economist for the Commercial Bank, JPMorgan Chase & Co.
 
"Financial Markets, Banking, and Monetary Policy by Tom Simpson provides a comprehensive introduction to the financial system, including the markets, institutions, and mechanisms of finance, as well as the role of the Federal Reserve and monetary policy. The economic principles underlying finance are woven through the chapters, and the book includes an insightful introduction into the causes of and responses to the recent financial crisis. Tom Simpson has had a front-row seat on financial developments in recent decades and has written a book that provides an ideal introduction to the financial system and monetary policy."
 
--Dan Sichel, Professor of Economics, Wellesley College

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Über die Autorin bzw. den Autor

THOMAS D. SIMPSON served as a senior officer at the Board of Governors of the Federal Reserve System. In addition to his other responsibilities, he was an officer of the Federal Open Market Committee. Simpson is on the faculty at the University of North Carolina Wilmington.

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An essential resource for understanding complex modern financial markets, monetary policy, and banking systems
 
The international economic environment has evolved to the point that what constitutes money is not always clear-cut, and monetary aggregates are undependable as guides to overall policy. Central banks have had to turn to very different tactics in order to achieve their stated policy goals.
 
In this in-depth resource, Thomas D. Simpson--a former official with the Federal Reserve System--introduces a new approach to both monetary policy and the overall financial system. Financial Markets, Banking, and Monetary Policy highlights the role of each major financial market and institution and shows how they've become a part of the overall financial system. The book also describes the important features of central banks--along with their responsibility for achieving specific macroeconomic objectives--and reveals how they pursue goals for inflation, employment, and the economy. While highlighting the United States system, Simpson's comprehensive view of banking and monetary policy is equally applicable to the financial systems and economies of other developed nations.
 
This reliable resource is solidly grounded in economic principles and on the key term structure of interest rate relationships. Simpson explores how the term structure relationship plays a central role in the conduct of monetary policy and outlines a framework for understanding financial crises and the systemic risk faced by modern economies. The book explains in detail the evolving integration of central banks' various methods for conducting monetary and financial stability policies.
 
Filled with illustrative examples and charts, this resource delves into the interconnection between financial markets and institutions, monetary policy, and performance of the economy. An indispensible resource for both professionals and students of finance and economics, Financial Markets, Banking, and Monetary Policy offers a clear understanding of Simpson's term structure relationship and how it works throughout the financial system.

Aus dem Klappentext

Praise for Financial Markets, Banking, and Monetary Policy
 
"A lucid treatment that takes on board shadow-banking, Dodd-Frank, the zero lower bound, and forward guidance. In short, all the key post-crisis issues."
 
--Anil Kashyap, Edward Eagle Brown Professor of Economics and Finance, University of Chicago
 
"The financial sector is a vital component of the US economic machinery. The Federal Reserve works within this sector to promote its congressional mandates of maximum employment and low inflation. Unfortunately, the contribution of the financial system to the economy's performance is not well understood. Students of standard college courses on money, banking, and monetary policy often find that the textbooks have not kept pace with the evolution of the financial sector, including the rise of securitized finance and the Federal Reserve's evolving monetary operations. Tom Simpson's book represents a huge step forward in this regard. His comprehensive exposition of the essential parts of the financial system and modern explanation of how the Federal Reserve supports the economy gives readers a much better understanding of the US financial system and the Federal Reserve."
 
--James Glassman, Managing Director and Head Economist for the Commercial Bank, JPMorgan Chase & Co.
 
"Financial Markets, Banking, and Monetary Policy by Tom Simpson provides a comprehensive introduction to the financial system, including the markets, institutions, and mechanisms of finance, as well as the role of the Federal Reserve and monetary policy. The economic principles underlying finance are woven through the chapters, and the book includes an insightful introduction into the causes of and responses to the recent financial crisis. Tom Simpson has had a front-row seat on financial developments in recent decades and has written a book that provides an ideal introduction to the financial system and monetary policy."
 
--Dan Sichel, Professor of Economics, Wellesley College

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