The economics of money, banking and finance : a European text / / Peter Howells, Keith Bain

• Autore: Howells P. G. A. <1947->
• Pubblicazione: Harlow, England : , : Pearson Education Limited, , [2008]; ©2008
• Edizione: Fourth edition.
• Descrizione fisica: 1 online resource (634 pages) : illustrations, tables
• Disciplina: 332.1094
• Soggetto topico: International finance; Banks and banking - Europe; Finance - Europe
• Persona (resp. second.): BainK. <1942->
• Note generali: Bibliographic Level Mode of Issuance: Monograph
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Cover -- Contents -- Guided tour -- Preface -- Acknowledgements -- Symbols, abbreviations and other conventions -- Part 1 Introduction -- 1 The role of a financial system -- 1.1 Introduction -- 1.2 Lenders and borrowers -- 1.3 Financial institutions -- 1.4 Financial markets -- 1.5 The financial system and the real economy -- 1.6 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- Part 2 Financial Institutions and Systems -- 2 An introduction to financial systems -- 2.1 Introduction -- 2.2 Classification of financial systems -- 2.3 Banks and other deposit-taking institutions -- 2.4 Non-deposit-taking institutions - insurance companies and pension funds -- 2.5 Non-deposit-taking institutions - mutual funds -- 2.6 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 3 The UK financial system -- 3.1 Introduction -- 3.2 Banks in the UK -- 3.3 Building societies in the UK -- 3.4 Insurance companies -- 3.5 Pension funds -- 3.6 Unit trusts -- 3.7 Investment trusts -- 3.8 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 4 The US financial system -- 4.1 Introduction -- 4.2 Deposit-taking institutions in the USA -- 4.3 The Federal Reserve System -- 4.4 Non-depository institutions in the USA -- 4.5 The home mortgage market and subprime lending -- 4.6 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 5 The German financial system -- 5.1 Introduction -- 5.2 Banks and other deposit-taking institutions -- 5.3 Non-deposit institutions -- 5.4 The use of bond and equity markets in Germany -- 5.5 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 6 The French and Italian financial systems -- 6.1 Introduction -- 6.2 The French banking system. ; 6.3 Specialist and non-deposit institutions -- 6.4 Financial markets in France -- 6.5 The development of the Italian financial system -- 6.6 The current position of the Italian financial system -- 6.7 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 7 Financial systems in Northern Europe -- 7.1 Introduction -- 7.2 Banking systems in the Nordic countries -- 7.3 Other financial intermediaries in the Nordic countries -- 7.4 The evolution and integration of financial systems in Scandinavia -- 7.5 Monetary policy strategies in the Nordic countries -- 7.6 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- Part 3 Theory -- 8 Portfolio theory -- 8.1 Introduction -- 8.2 Risk and return -- 8.3 Diversification -- 8.4 'Market' and 'specific' risk -- 8.5 The capital asset pricing model -- 8.6 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 9 The determination of short-term interest rates -- 9.1 Introduction -- 9.2 Interest rates defined and classified -- 9.3 'Market' theories of interest rate determination -- 9.4 The role of central banks - 'administered' interest rates -- 9.5 A synthesis -- 9.6 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 10 The structure of interest rates -- 10.1 Introduction -- 10.2 The effect of term -- 10.3 The effect of risk -- 10.4 Expectations and government borrowing -- 10.5 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 11 The valuation of assets -- 11.1 Introduction -- 11.2 Supply and demand in asset markets -- 11.3 Asset valuation -- 11.4 The 'fundamentals' of asset valuation -- 11.5 An alternative interpretation -- 11.6 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- Appendix to Chapter 11. ; Part 4 Money and Banking -- 12 Banks and the supply of money -- 12.1 Introduction -- 12.2 The definition of money -- 12.3 Banks' balance sheets -- 12.4 Models of money supply determination -- 12.5 Controlling the money supply -- 12.6 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 13 The demand for money -- 13.1 Introduction -- 13.2 The standard approach to the transmission mechanism -- 13.3 Testing the demand for money - the outcome -- 13.4 A more realistic approach to the transmission mechanism of monetary policy -- 13.5 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 14 Monetary policy -- 14.1 Introduction -- 14.2 The simple Phillips curve -- 14.3 The 'expectations-augmented' Phillips curve -- 14.4 The policy irrelevance theorem -- 14.5 The Phillips curve and monetary policy today -- 14.6 Rules and discretion in monetary policy -- 14.7 Governments, inflationary incentives and independent central banks -- 14.8 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- Part 5 Markets -- 15 Money markets -- 15.1 Introduction -- 15.2 Money market instruments: characteristics and yields -- 15.3 Characteristics and use of the money markets -- 15.4 Official intervention in the money markets -- 15.5 The Eurocurrency markets -- 15.6 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 16 Bond markets -- 16.1 Introduction -- 16.2 Bonds: types and characteristics -- 16.3 Bond prices and yields -- 16.4 Risk and fixed interest bonds -- 16.5 The term structure of interest rates -- 16.6 Characteristics of the bond markets -- 16.7 International bonds -- 16.8 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 17 Equity markets -- 17.1 Introduction. ; 17.2 Company shares: types, characteristics and returns -- 17.3 Equity pricing -- 17.4 Share price movements -- 17.5 Equity market characteristics -- 17.6 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 18 Foreign exchange markets -- 18.1 Introduction -- 18.2 Foreign exchange rates in the Financial Times -- 18.3 Interest rate parity -- 18.4 Exchange rate arbitrage -- 18.5 Foreign exchange risk and speculation -- 18.6 Reasons for exchange rate changes - theory and practice -- 18.7 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 19 Derivatives - the financial futures markets -- 19.1 Introduction -- 19.2 The nature of financial futures -- 19.3 Reading the Financial Times -- 19.4 The pricing of futures -- 19.5 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 20 Options, swaps and other derivatives -- 20.1 Introduction -- 20.2 Options -- 20.3 Principal types of options on financial assets -- 20.4 The pricing of options -- 20.5 Exotic options -- 20.6 Swaps -- 20.7 Other investment products and derivative contracts -- 20.8 Comparing different types of derivatives -- 20.9 The use and abuse of derivatives -- 20.10 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- Part 6 Current Issues -- 21 The internal European market -- 21.1 Introduction -- 21.2 The objectives and achievements of the Single European Act -- 21.3 The single financial market (European Financial Common Market - the EFCM) -- 21.4 Progress towards the EFCM -- 21.5 The Financial Services Action Plan -- 21.6 Enlargement to 27 -- 21.7 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 22 The European Monetary System and monetary union -- 22.1 Introduction. ; 22.2 The Treaty on European Union and the plans for monetary union -- 22.3 The problems of the 1990s -- 22.4 The movement to monetary union -- 22.5 Monetary union developments -- 22.6 The euro area - future membership prospects -- 22.7 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 23 The European Central Bank and euro area monetary policy -- 23.1 Introduction -- 23.2 Inflation, exchange rate and default risk in monetary union -- 23.3 Monetary institutions and policy in the single currency area -- 23.4 The form of monetary policy in the euro area -- 23.5 ECB monetary policy and the euro -- 23.6 Possible reforms at the ECB -- 23.7 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 24 Financial innovation -- 24.1 Introduction -- 24.2 Theories of innovation -- 24.3 Three case studies -- 24.4 The demand for money and monetary policy -- 24.5 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 25 The regulation of financial markets -- 25.1 Introduction -- 25.2 The difficulties of regulation -- 25.3 The Financial Services Authority (FSA) -- 25.4 Banking regulation -- 25.5 The impact of globalization and financial innovation - the Basel Committee -- 25.6 The regulation of universal banking in the EU -- 25.7 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- 26 Financial market efficiency -- 26.1 Introduction -- 26.2 The efficient market hypothesis -- 26.3 Implications of the EMH -- 26.4 Testing the EMH -- 26.5 Market rationality -- 26.6 Behavioural finance -- 26.7 Summary -- Key concepts in this chapter -- Questions and problems -- Further reading -- Case studies -- Case study 1 The structure of banking and conflicts of interest -- Case study 2 The dotcom phenomenon. ; Case study 3 Efficient markets: contrasting evidence.
• Sommario/riassunto: The 4th edition of The Economics of Money, Banking and Finance is written to meet the needs of students requiring a rigorous grounding in financial economics theory, combined with institutional and policy discussion relevant to the ‘real world’ of contemporary Europe.
• Titolo autorizzato: The economics of money, banking and finance
• ISBN: 1-4479-3004-5
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910154643903321
• Lo trovi qui: Univ. Federico II