Money, banking, and the financial system / / R. Glenn Hubbard, Anthony Patrick O'Brien

• Autore: Hubbard R. Glenn
• Pubblicazione: Boston : , : Pearson, , [2014]; ©2014
• Edizione: Second, International edition.
• Descrizione fisica: 1 online resource (663 pages) : illustrations
• Disciplina: 332.4
• Soggetto topico: Money
• Persona (resp. second.): O'BrienAnthony Patrick
• Note generali: Includes index.
• Nota di contenuto: Cover -- Title -- Contents -- Chapter 1 Introducing Money and the Financial System -- Is Prosperity Just Around the Corner? -- 1.1 Key Components of the Financial System -- Financial Assets -- Financial Institutions -- Making the Connection: Microlending Aids U.S. Small Businesses -- Making the Connection: What Do People Do with Their Savings? -- The Federal Reserve and Other Financial Regulators -- What Does the Financial System Do? -- Solved Problem 1.1: The Services Securitized Loans Provide -- 1.2 The Financial Crisis of 2007-2009 -- Origins of the Financial Crisis.. -- The Deepening Crisis and the Response of the Fed and Treasury -- 1.3 Key Issues and Questions About Money, Banking, and the Financial System -- *Key Terms and Problems -- Key Terms, Review Questions -- Problems and Applications, Data Exercises -- Chapter 2 Money and the Payments System -- Who Hates the Federal Reserve? -- Key Issue and Question -- 2.1 Do We Need Money? -- Barter -- The Invention of Money -- Making the Connection: What's Money? Ask a Taxi Driver! -- 2.2 The Key Functions of Money -- Medium of Exchange -- Unit of Account -- Store of Value -- Standard of Deferred Payment -- Distinguishing Among Money, Income, and Wealth -- What Can Serve as Money? -- The Mystery of Fiat Money -- Making the Connection: Apple Didn't Want My Cash! -- 2.3 The Payments System -- The Transition from Commodity Money to Fiat Money -- The Importance of Checks -- Electronic Funds and Electronic Cash -- 2.4 Measuring the Money Supply -- Measuring Monetary Aggregates -- Making the Connection: Show Me the Money! -- Does It Matter Which Definition of the Money Supply We Use? -- 2.5 The Quantity Theory of Money: A First Look at the Link Between Money and Prices -- Irving Fisher and the Equation of Exchange -- The Quantity Theory Explanation of Inflation. ; Solved Problem 2.5: The Relationship Between Money and Income -- How Accurate Are Forecasts of Inflation Based on the Quantity Theory? -- The Hazards of Hyperinflation -- What Causes Hyperinflation? -- Making the Connection: Deutsche Bank During the German Hyperinflation -- Should Central Banks Be Independent? -- Answering the Key Question -- Key Terms, Review Questions -- Problems and Applications, Data Exercises -- Chapter 3 Interest Rates and Rates of Return -- Will Investors Lose Their Shirts in the Market for Treasury Bonds? -- Key Issue and Question -- 3.1 The Interest Rate, Present Value, and Future Value -- Why Do Lenders Charge Interest on Loans? -- Most Financial Transactions Involve Payments in the Future -- Compounding and Discounting -- Solved Problem 3.1A: Using Compound Interest to Select a Bank CD -- Solved Problem 3.1B: How Do You Value a College Education? -- Discounting and the Prices of Financial Assets -- 3.2 Debt Instruments and Their Prices -- Loans, Bonds, and the Timing of Payments -- Making the Connection: Interest Rates and Student Loans -- 3.3 Bond Prices and Yield to Maturity -- Bond Prices -- Yield to Maturity -- Yields to Maturity on Other Debt Instruments -- Solved Problem 3.3: Finding the Yield to Maturity for Different Types of Debt Instruments -- 3.4 The Inverse Relationship Between Bond Prices and Bond Yields -- What Happens to Bond Prices When Interest Rates Change? -- Making the Connection: Banks Take a Bath on Mortgage-Backed Bonds -- Bond Prices and Yields to Maturity Move in Opposite Directions -- Secondary Markets, Arbitrage, and the Law of One Price -- Making the Connection: How to Follow the Bond Market: Reading the Bond Tables -- 3.5 Interest Rates and Rates of Return -- A General Equation for the Rate of Return on a Bond -- Interest-Rate Risk and Maturity. ; How Much Interest-Rate Risk Do Investors in Treasury Bonds Face? -- 3.6 Nominal Interest Rates Versus Real Interest Rates -- Answering the Key Question -- *Key Terms and Problems -- Key Terms, Review Questions -- Problems and Applications, Data Exercises -- Chapter 4 Determining Interest Rates -- Are There Any Safe Investments? -- Key Issue and Question -- 4.1 How to Build an Investment Portfolio -- The Determinants of Portfolio Choice -- Making the Connection: Fear the Black Swan! -- Diversification -- Making the Connection: How Much Risk Should You Tolerate in Your Portfolio? -- 4.2 Market Interest Rates and the Demand and Supply for Bonds -- A Demand and Supply Graph of the Bond Market -- Explaining Changes in Equilibrium Interest Rates -- Factors That Shift the Demand Curve for Bonds -- Factors That Shift the Supply Curve for Bonds -- Making the Connection: Why Are Bond Interest Rates So Low? -- 4.3 The Bond Market Model and Changes in Interest Rates -- Why Do Interest Rates Fall During Recessions? -- How Do Changes in Expected Inflation Affect Interest Rates? The Fisher Effect -- Solved Problem 4.3: Should You Worry About Falling Bond Prices When the Inflation Rate Is Low? -- 4.4 The Loanable Funds Model and the International Capital Market -- The Demand and Supply for Loanable Funds -- Equilibrium in the Bond Market from the Loanable Funds Perspective -- The International Capital Market and the Interest Rate -- Small Open Economy -- Large Open Economy -- Making the Connection: Did a Global "Saving Glut" Cause the U.S. Housing Boom? -- Answering the Key Question -- *Key Terms and Problems -- Key Terms, Review Questions -- Problems and Applications, Data Exercises -- Chapter 5 The Risk Structure and Term Structure of Interest Rates -- Searching for Yield -- Key Issue and Question -- 5.1 The Risk Structure of Interest Rates -- Default Risk. ; Making the Connection: Do Credit Rating Agencies Have a Conflict of Interest? -- Liquidity and Information Costs -- Tax Treatment -- Solved Problem 5.1: How Would a VAT Affect Interest Rates? -- Making the Connection: Should You Invest in Junk Bonds? -- 5.2 The Term Structure of Interest Rates -- Making the Connection: Negative Interest Rates on Treasury Bills? -- Explaining the Term Structure -- The Expectations Theory of the Term Structure -- Solved Problem 5.2A: Can You Make Easy Money from the Term Structure? -- The Segmented Markets Theory of the Term Structure -- The Liquidity Premium Theory -- Solved Problem 5.2B: Using the Liquidity Premium Theory to Calculate Expected Interest Rates -- Can the Term Structure Predict Recessions? -- Answering the Key Question -- Key Terms, Review Questions -- Problems and Applications, Data Exercises -- Chapter 6 The Stock Market, Information, and Financial Market Efficiency -- Are You Willing to Invest in the Stock Market? -- Key Issue and Question -- 6.1 Stocks and the Stock Market -- Common Stock Versus Preferred Stock -- How and Where Stocks Are Bought and Sold -- Measuring the Performance of the Stock Market -- Does the Performance of the Stock Market Matter to the Economy? -- Making the Connection: Should You Invest in the U.S. Stock Market? -- 6.2 How Stock Prices Are Determined -- Investing in Stock for One Year -- The Rate of Return on a One-Year Investment in a Stock -- Making the Connection: How Should the Government Tax Your Investment in Stocks? -- The Fundamental Value of Stock -- The Gordon Growth Model -- Solved Problem 6.2: Using the Gordon Growth Model to Evaluate GE Stock -- 6.3 Rational Expectations and Efficient Markets -- Adaptive Expectations Versus Rational Expectations -- The Efficient Markets Hypothesis -- Are Stock Prices Predictable? -- Efficient Markets and Investment Strategies. ; Making the Connection: What if You Invest in the Stock Market by Picking Stocks Randomly? -- Solved Problem 6.3: Should You Pay Attention to the Advice of Investment Analysts? -- 6.4 Actual Efficiency in Financial Markets -- Pricing Anomalies -- Mean Reversion -- Excess Volatility -- Making the Connection: Does the Financial Crisis of 2007-2009 Disprove the Efficient Markets Theory? -- 6.5 Behavioral Finance -- Noise Trading and Bubbles -- How Great a Challenge Is Behavioral Finance to the Efficient Markets Hypothesis? -- Answering the Key Question -- *Key Terms and Problems -- Key Terms, Review Questions -- Problems and Applications, Data Exercises -- Chapter 7 Derivatives and Derivative Markets -- Using Financial Derivatives to Reduce Risk -- Key Issue and Question -- 7.1 Derivatives, Hedging, and Speculating -- 7.2 Forward Contracts -- 7.3 Futures Contracts -- Hedging with Commodity Futures -- Making the Connection: Should Farmers Be Afraid of the Dodd-Frank Act? -- Speculating with Commodity Futures -- Hedging and Speculating with Financial Futures -- Making the Connection: How to Follow the Futures Market: Reading the Financial Futures Listings -- Solved Problem 7.3: How Can You Hedge an Investment in Treasury Notes When Interest Rates Are Low? -- Trading in the Futures Market -- 7.4 Options -- Why Would You Buy or Sell an Option? -- Option Pricing and the Rise of the "Quants" -- Making the Connection: How to Follow the Options Market: Reading the Options Listings -- Solved Problem 7.4: Interpreting the Options Listings for Amazon.com -- Using Options to Manage Risk -- Making the Connection: How Much Volatility Should You Expect in the Stock Market? -- 7.5 Swaps -- Interest-Rate Swaps -- Currency Swaps and Credit Swaps -- Credit Default Swaps -- Making the Connection: Are Derivatives "Financial Weapons of Mass Destruction"?. ; Answering the Key Question.
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• Titolo autorizzato: Money, banking, and the financial system
• ISBN: 1-292-00019-8
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910151593603321
• Lo trovi qui: Univ. Federico II
• Serie: Always learning.