Money and Banking | Robert E. Wright

- 1Money, Banking, and Your World
  - 1.1Dreams Dashed
  - 1.2Hope Springs
  - 1.3Suggested Browsing
  - 1.4Suggested Reading
- 2The Financial System
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  - 2.1Evil and Brilliant Financiers?
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  - 2.2Financial Systems
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  - 2.3Asymmetric Information: The Real Evil
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  - 2.4Financial Instruments
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  - 2.5Financial Markets
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  - 2.6Financial Intermediaries
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  - 2.7Competition Between Markets and Intermediaries
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  - 2.8Regulation
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  - 2.9Suggested Reading
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- 3Money
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  - 3.1Of Love, Money, and Transactional Efficiency
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  - 3.2Better to Have Had Money and Lost It Than to Have Never Had Money at All
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  - 3.3A Short History of Moolah
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  - 3.4Commodity and Credit Monies
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  - 3.5Measuring Money
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  - 3.6Suggested Reading
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- 4Interest Rates
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  - 4.1The Interest of Interest
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  - 4.2Present and Future Value
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  - 4.3Compounding Periods
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  - 4.4Pricing Debt Instruments
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  - 4.5What’s the Yield on That?
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  - 4.6Calculating Returns
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  - 4.7Inflation and Interest Rates
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  - 4.8Suggested Reading
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- 5The Economics of Interest-Rate Fluctuations
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  - 5.1Interest Rate Fluctuations
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  - 5.2Shifts in Supply and Demand for Bonds
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  - 5.3Predictions and Effects
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  - 5.4Suggested Reading
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- 6The Economics of Interest-Rate Spreads and Yield Curves
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  - 6.1Interest-Rate Determinants I: The Risk Structure
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  - 6.2The Determinants of Interest Rates II: The Term Structure
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  - 6.3Suggested Reading
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- 7Rational Expectations, Efficient Markets, and the Valuation of Corporate Equities
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  - 7.1The Theory of Rational Expectations
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  - 7.2Valuing Corporate Equities
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  - 7.3Financial Market Efficiency
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  - 7.4Evidence of Market Efficiency
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  - 7.5Suggested Reading
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- 8Financial Structure, Transaction Costs, and Asymmetric Information
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  - 8.1The Sources of External Finance
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  - 8.2Transaction Costs, Asymmetric Information, and the Free-Rider Problem
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  - 8.3Adverse Selection
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  - 8.4Moral Hazard
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  - 8.5Agency Problems
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  - 8.6Suggested Reading
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- 9Bank Management
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  - 9.1The Balance Sheet
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  - 9.2Assets, Liabilities, and T-Accounts
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  - 9.3Bank Management Principles
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  - 9.4Credit Risk
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  - 9.5Interest-Rate Risk
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  - 9.6Off the Balance Sheet
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  - 9.7Suggested Reading
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- 10Innovation and Structure in Banking and Finance
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  - 10.1Early Financial Innovations
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  - 10.2Innovations Galore
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  - 10.3Loophole Mining and Lobbying
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  - 10.4Banking on Technology
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  - 10.5Banking Industry Profitability and Structure
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  - 10.6Suggested Reading
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- 11The Economics of Financial Regulation
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  - 11.1Market Failures and Public Choice
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  - 11.2The Great Depression as Regulatory Failure
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  - 11.3The Savings and Loan Regulatory Debacle
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  - 11.4Better but Still Not Good: U.S. Regulatory Reforms
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  - 11.5Basel II, Basel III, and Dodd-Frank
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  - 11.6Suggested Reading
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- 12Financial Derivatives
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  - 12.1Derivatives and Their Functions
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  - 12.2Forwards and Futures
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  - 12.3Options and Swaps
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  - 12.4Suggested Reading
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- 13Financial Crises: Causes and Consequences
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  - 13.1Financial Crisis Taxonomies
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  - 13.2Asset Bubbles
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  - 13.3Financial Panics
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  - 13.4Lender of Last Resort (LLR)
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  - 13.5Bailouts and Resolutions
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  - 13.6The Crisis of 2007-2009
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  - 13.7Suggested Reading
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- 14Central Bank Form and Function
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  - 14.1America’s Central Banks
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  - 14.2The Federal Reserve System’s Structure
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  - 14.3Other Important Central Banks
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  - 14.4Central Bank Independence
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  - 14.5Suggested Reading
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- 15The Money Supply Process and the Money Multipliers
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  - 15.1The Central Bank’s Balance Sheet
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  - 15.2Open Market Operations
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  - 15.3A Simple Model of Multiple Deposit Creation
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  - 15.4A More Sophisticated Money Multiplier for M1
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  - 15.5The M2 Money Multiplier
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  - 15.6Summary and Explanation
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  - 15.7Suggested Reading
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- 16Monetary Policy Tools
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  - 16.1The Federal Funds Market and Reserves
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  - 16.2Open Market Operations and the Discount Window
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  - 16.3The Monetary Policy Tools of Other Central Banks
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  - 16.4Suggested Reading
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- 17Monetary Policy Targets and Goals
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  - 17.1A Short History of Fed Blunders
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  - 17.2Central Bank Goal Trade-offs
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  - 17.3Central Bank Targets
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  - 17.4The Taylor Rule
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  - 17.5Suggested Reading
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- 18Foreign Exchange
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  - 18.1The Economic Importance of Currency Markets
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  - 18.2Determining the Exchange Rate
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  - 18.3Long-Run Determinants of Exchange Rates
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  - 18.4Short-Run Determinants of Exchange Rates
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  - 18.5Modeling the Market for Foreign Exchange
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  - 18.6Suggested Reading
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- 19International Monetary Regimes
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  - 19.1The Trilemma, or Impossible Trinity
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  - 19.2Two Systems of Fixed Exchange Rates
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  - 19.3The Managed or Dirty Float
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  - 19.4The Choice of International Policy Regime
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  - 19.5Suggested Reading
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- 20Money Demand
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  - 20.1The Simple Quantity Theory and the Liquidity Preference Theory of Keynes
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  - 20.2Friedman’s Modern Quantity Theory of Money
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  - 20.3The Policy Failure of the Modern Quantity Theory of Money
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  - 20.4Suggested Reading
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- 21IS-LM
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  - 21.1Aggregate Output and Keynesian Cross Diagrams
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  - 21.2The IS-LM Model
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- 22IS-LM in Action
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  - 22.1Shifting Curves: Causes and Effects
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  - 22.2Implications for Monetary Policy
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  - 22.3Aggregate Demand Curve
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- 23Aggregate Supply and Demand and the Growth Diamond
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  - 23.1Aggregate Demand
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  - 23.2Aggregate Supply
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  - 23.3Equilibrium Analysis
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  - 23.4The Growth Diamond
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  - 23.5Suggested Reading
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- 24Monetary Policy Transmission Mechanisms
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  - 24.1Modeling Reality
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  - 24.2How Important Is Monetary Policy?
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  - 24.3Transmission Mechanisms
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  - 24.4Suggested Reading
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- 25Inflation and Money
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  - 25.1Empirical Evidence of a Money-Inflation Link
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  - 25.2Why Have Central Bankers So Often Gotten It Wrong?
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  - 25.3Suggested Reading
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- 26Rational Expectations Redux: Monetary Policy Implications
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  - 26.1Rational Expectations
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  - 26.2New Keynesians
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  - 26.3Inflation Busting
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  - 26.4Suggested Reading
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