本书对传统的货币与银行教学方法进行了调整:在全书早期即引入了风险的概念,并用整章内容讨论了这一概念;书中整合了并强调了各种金融工具的使用;在讨论货币经济学时,书中略过了IS-LM框架,重点讨论了长期货币增长与通货膨胀、短期货币政策和商业周期等主题,从而以更加现代、更加相关的方式讨论了货币经济学的有关内容;并且一体化的全球视角贯穿全书。适用于金融学专业本科生、MBA以及一切愿意了解货币、银行与金融体系的人士。本书为全英文版。
本书研究了金融体系的基本作用,包括货币与金融体系,利率、金融工具和金融市场,金融机构,中央银行、货币政策和金融稳定性及现代货币经济学等内容。全书从五个核心原则出发,着重分析了金融体系的现行结构和规则,以帮助学生理解金融体系及其对人们的经济影响,并赋予学生能够理解并评估他们在将来可能会面临的金融创新的终身能力。
Part I Money and the Financial System 1
chapter 1 An Introduction to Money and the Financial System 2
chapter 2 Money and the Payments System 13
chapter 3 Financial Instruments, Financial Markets, and Financial Institutions 35
Part Ⅱ Interest Rates, Financial Instruments, and Financial Markets 61
chapter 4 Future Value, Present Value, and Interest Rates 62
chapter 5 Understanding Risk 90
chapter 6 Bonds, Bond Prices, and the Determination of Interest Rates 119
chapter 7 The Risk and Term Structure of Interest Rates 149
chapter 8 Stocks, Stock Markets, and Market Efficiency 177
chapter 9 Derivatives: Futures, Options, and Swaps 202
chapter 10 Foreign Exchange 228
Part Ⅲ Financial Institutions 258
chapter 11 The Economics of Financial Intermediation 259
chapter 12 Depository Institutions: Banks and Bank Management 286
chapter 13 Financial Industry Structure 317
chapter 14 Regulating the Financial System 349
Part V Central Banks, Monetary Policy, and Financial Stability 375
chapter 15 Central Banks in the World Today 376
chapter 16 The Structure of Central Banks: The Federal Reserve and the European Central Bank 401
chapter 17 The Central Bank Balance Sheet and the Money Supply Process 426
chapter 18 Monetary Policy: Using Interest Rates to Stabilize the Domestic Economy 460
chapter 19 Exchange-Rate Policy and the Central Bank 489
Part V Modern Monetary Economics 518
chapter 20 Money Growth, Money Demand, and Modem Monetary Policy 519
chapter 21 Modem Monetary Policy and Aggregate Demand 550
chapter 22 Understanding Business Cycles 584
chapter 23 Monetary Policy, Output, and Inflation in the Short Run 618