Descripciones mejoradas de Syndetics:

This text strives to bring money and banking up-to-date by providing complete, integrated coverage of topics that are important to the twenty-first century world of money and banking. While covering the myriad topics appropriate for a money and banking course, the book is the first in the field to fully integrate coverage of international financial markets and the global economy from the outset. It also gives considerable attention to the ways in which new technologies are affecting the practice of banking, the nature of money, and the tasks of policymakers, and is the first and only text on the market to offer a fully-integrated program of accompanying online resources and multimedia tools that enhance a student's study of money and banking.

Tabla de contenidos provista por Syndetics

• To the Instructor(p. xix)
• Unit I Introduction(p. 1)
• Chapter 1 Money--An Introduction(p. 2)
• Objectives of This Book and How They Relate to You(p. 3)
• The Globalization of Money, Banking, and Financial Markets(p. 3)
• Money and Banking in the Digital Age(p. 4)
• Money: Its Functions, Forms, and Evolution(p. 6)
• Defining and Measuring the Amount of Money in Circulation(p. 13)
• Can Money Be Defined in a Digital Economy?(p. 18)
• Link to the Global Economy: Is Dollarization the Answer in Argentina?(p. 21)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 23)
• Chapter 2 Banking in the New Cyberworld(p. 26)
• E-Cash: The Future Is Now(p. 26)
• Regulatory Issues of Electronic Money(p. 33)
• Electronic Money and Monetary Policy(p. 42)
• Link to Management: And You Always Thought That Most of Your Debit-Card Transactions Were Instantaneous(p. 46)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 48)
• Chapter 3 Financial Markets, Instruments, and Institutions(p. 51)
• Saving and Investment in a Global Economy(p. 52)
• Financial Markets and Instruments(p. 53)
• The Cybertrading Revolution and Its International Ramifications(p. 61)
• Domestic and International Financial Intermediation(p. 66)
• Financial Institutions(p. 70)
• Link to Management: Shifting Mortgages into Reverse Gear(p. 73)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 74)
• Unit II Financial Markets, Instruments, and Institutions(p. 79)
• Chapter 4 Interest Rates(p. 80)
• Calculating Interest Yields(p. 81)
• The Risk Structure of Interest Rates(p. 87)
• The Term Structure of Interest Rates(p. 91)
• Nominal versus Real Rates of Interest(p. 97)
• Interest Rates in an Interdependent World(p. 99)
• Key Interest Rates in the Global Economy(p. 101)
• Link to Policy: Does the Yield Curve Predict Recessions?(p. 103)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 105)
• Chapter 5 A World Market?--International Financial Integration(p. 108)
• International Money and Capital Markets(p. 109)
• Cybertechnologies and International Financial Integration(p. 112)
• Vehicle Currencies(p. 117)
• Banking around the Globe(p. 119)
• Link to the Global Economy: Will Stock Markets outside the United States Ever Catch Up?(p. 121)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 123)
• Chapter 6 Foreign Exchange Markets(p. 126)
• Exchange Rates and the Market for Foreign Exchange(p. 126)
• The Demand for and Supply of Currencies and the Equilibrium Exchange Rate(p. 129)
• Purchasing Power Parity(p. 136)
• Link to Policy: Measuring the Overall Value of the Dollar--Effective Exchange Rates(p. 143)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 145)
• Chapter 7 Finding the Best Mix of Financial Instruments--The Theory of Portfolio Choice(p. 148)
• Financial Instrument Portfolios(p. 149)
• Fundamental Determinants of Portfolio Choice(p. 150)
• The Gains from Domestic and International Diversification(p. 155)
• Link to Management: Why Is Stockholding Still So Highly Concentrated among the Rich?(p. 163)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 165)
• Chapter 8 Managing Risks in the Global Economy--Derivative Securities(p. 168)
• Interest Rate Risk, Duration, and Derivative Securities(p. 169)
• Forward and Futures Contracts(p. 174)
• Options(p. 180)
• Swaps(p. 184)
• Derivative Risk and Regulation(p. 186)
• Link to Management: Following the Money in Derivatives Markets(p. 189)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 191)
• Chapter 9 Efficient Markets and International Interest Parity(p. 194)
• The Rational Expectations Hypothesis(p. 195)
• Efficient Markets(p. 199)
• Financial Instrument Prices in Efficient Markets(p. 200)
• The Forward Exchange Market and Covered Interest Parity(p. 204)
• Foreign Exchange Market Efficiency(p. 209)
• Link to the Global Economy: Excess Returns and Uncovered Interest Parity(p. 214)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 216)
• Chapter 10 Nondepository Financial Institutions(p. 218)
• Securities Market Institutions(p. 219)
• Insurance Institutions(p. 222)
• Pension Funds(p. 227)
• Government Credit Agencies(p. 229)
• Finance Companies(p. 229)
• Mutual Funds and Hedge Funds(p. 230)
• Link to Policy: Are Fannie Mae and Freddie Mac Out of Control?(p. 234)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 236)
• Unit III Depository Financial Institutions(p. 239)
• Chapter 11 Depository Financial Institutions(p. 240)
• The Origins and Global Development of Depository Institutions(p. 241)
• Commercial Banks(p. 247)
• Savings Institutions(p. 254)
• Credit Unions(p. 258)
• Link to Policy: Trying to Draw a Line on What Credit Unions Can and Cannot Do to Compete with Commercial Banks(p. 260)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 262)
• Chapter 12 Understanding How Banking Markets Work--The Economics of Depository Institutions(p. 264)
• Depository Institution Revenues, Costs, and Profits(p. 265)
• A Competitive Theory of Banking(p. 268)
• Imperfect Competition in Banking?(p. 281)
• Link to Management: Does the Theory of Perfect Competition Apply to Online Banking?(p. 285)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 287)
• Chapter 13 The Business of Banking--Depository Institution Management and Performance(p. 290)
• Basic Issues in Depository Institution Management(p. 291)
• Theories of Bank Management(p. 296)
• An Evolving Depository Institution Market Structure(p. 301)
• Link to Management: Will Credit Derivatives Allow Banks to Get Out of the Risk Business?(p. 308)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 310)
• Chapter 14 Foundations of Depository Institution Regulation(p. 313)
• The Evolution of U.S. Depository Institution Regulation(p. 314)
• Deposit Insurance: The Big Regulatory Complication(p. 319)
• The Great Regulatory Experiment: Capital Requirements(p. 323)
• The Current Regulatory Framework(p. 328)
• International Dimensions of Bank Regulation(p. 332)
• Link to Policy: If Deposit Insurance Is Not a Free Lunch, Why Do So Many Financial Institutions Want a Seat at the Table?(p. 336)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 338)
• Chapter 15 Economic Consequences of Depository Institution Regulation(p. 341)
• Economies of Scale and Scope: Does Bank Size Matter?(p. 342)
• Depository Institution Market Concentration and Performance(p. 345)
• Banking and Other Lines of Commerce(p. 348)
• Regulating Off-Balance-Sheet Banking(p. 351)
• Consumer-Protection Regulations(p. 356)
• Link to Policy: Could Financial Markets Guide Bank Regulation?(p. 361)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 363)
• Unit IV Central Banking, Monetary Policy, and the Federal Reserve System(p. 367)
• Chapter 16 Why Money and Banking Go Together--Depository Institutions and Money(p. 368)
• Reserve Requirements and Deposit Expansion(p. 369)
• The Fed, Electronic Impulses, and Deposit Expansion(p. 375)
• Deposit Expansion and the Money Multiplier(p. 378)
• Extended Money and Credit Multipliers(p. 382)
• Electronic Money and the Money Multiplier(p. 387)
• Link to the Global Economy: M2--By and Large the Monetary Aggregate of Choice(p. 392)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 394)
• Chapter 17 Central Banking and the Federal Reserve System(p. 397)
• The Central Banking Experience(p. 398)
• Origins and Evolution of the Fed(p. 405)
• The Structure of the Fed(p. 412)
• Link to Policy: Federal Reserve Policy on and after September 11, 2001(p. 416)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 418)
• Chapter 18 The Federal Reserve and the Financial System(p. 421)
• The Fed as a Central Bank(p. 422)
• Cyberbanking, the Fed, and the U.S. Payment System(p. 428)
• Globally Linked Payments: Where Do Central Banks Fit In?(p. 435)
• Link to the Policy: Just How Many Daylight Overdrafts Are Too Many?(p. 439)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 441)
• Unit V Monetary Policy and the Economy(p. 445)
• Chapter 19 How Much Money Do People Want to Hold?--The Demand for Money(p. 446)
• The Motives for Holding Money(p. 447)
• The Transactions Demand for Money(p. 447)
• The Portfolio Demand for Money(p. 458)
• The Money Demand Schedule(p. 462)
• Link to the Global Economy: The Responsiveness of the Demand for Money to Income and Interest Rates(p. 466)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 468)
• Chapter 20 Day-to-Day Monetary Policy--Fed Operating Procedures(p. 471)
• The Instruments of Monetary Policy(p. 472)
• The Demand for Depository Institution Reserves(p. 478)
• The Supply of Depository Institution Reserves(p. 481)
• The Market for Reserves, Interest Rates, and the Quantity of Money(p. 484)
• Federal Reserve Operating Procedures(p. 490)
• Link to Policy: Have Sweep Accounts Made M1 Irrelevant?(p. 497)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 499)
• Chapter 21 How Do We Know How We're Doing?--The Macroeconomic Environment(p. 502)
• The Circular Flow of Income and Product(p. 502)
• Measuring Domestic Variables: The National Income Accounts(p. 504)
• Measuring International Transactions: The Balance of Payments(p. 508)
• Accounting for Inflation: Price Deflators and Real GDP(p. 513)
• Cycles in Economic Activity(p. 516)
• Link to Management: Does the Stock Market Forecast Business Productivity?(p. 523)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 525)
• Chapter 22 The Self-Regulating Economy--Classical Monetary Theory(p. 527)
• Fundamental Classical Perspectives(p. 527)
• The Classical Theory of Production and Employment(p. 529)
• Money and Aggregate Demand(p. 538)
• Interest Rate Determination(p. 544)
• Classical Monetary Theory in an Open Economy(p. 547)
• Link to Policy: Is Inflation Mainly a Monetary Phenomenon?(p. 550)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 552)
• Chapter 23 Money and Business Cycles--Essentials of the Keynesian System(p. 555)
• Aggregate Income and Expenditures(p. 556)
• Aggregate Desired Expenditures and Equilibrium National Income(p. 558)
• Business Cycles, Equilibrium Income, and Monetary Policy(p. 571)
• Monetary Policy, National Income, and the Balance of Trade(p. 581)
• Link to Policy: An Investment Recession(p. 584)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 586)
• Chapter 24 Can Monetary Policy Have Long-Lasting Real Effects?--Different Views on How Monetary Policy Affects the Economy(p. 589)
• Aggregate Demand and Supply in the Keynesian Framework(p. 590)
• Monetary Policy in the Keynesian Market for Real Output(p. 599)
• Recent Developments in Monetary Theory(p. 602)
• Link to the Global Economy: Is Labor Market "Flexibility" a Key to Lower Unemployment?(p. 613)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 615)
• Unit VI Monetary Policy(p. 617)
• Chapter 25 What Should the Fed Do?--Objectives and Targets of Monetary Policy(p. 618)
• Internal and External Objectives of Monetary Policy(p. 618)
• Intermediate Targets of Monetary Policy(p. 623)
• Interest Rate Targeting(p. 628)
• Targeting Monetary Aggregates(p. 631)
• Exchange Rate Targeting(p. 635)
• Link to Policy: Nominal GDP Targeting--A Better Approach?(p. 641)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 643)
• Chapter 26 Rules versus Discretion in Monetary Policy(p. 645)
• Time Lags in Monetary Policy and the Case for Rules(p. 646)
• Discretionary Monetary Policy and Inflation(p. 650)
• Making Monetary Policy Rules Credible(p. 657)
• Central Bank Independence: International Evidence(p. 661)
• Link to the Global Economy: Can National Unemployment Insurance Programs Substitute for Conservative Central Bankers?(p. 667)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 668)
• Chapter 27 What the Fed Does--Interest Rate Targeting and Economic Activity(p. 671)
• Interest Rate Targeting--A Global Phenomenon(p. 672)
• Interest Rate Targeting, Base Drift, and the Price Level(p. 676)
• Interest Rate Targeting and the Term Structure(p. 683)
• Interest Rate Targeting and the Economy(p. 687)
• Implications of Interest Rate Targeting for the World Economy(p. 689)
• Link to the Global Economy: Explaining International Interest Rate Linkages(p. 693)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 695)
• Chapter 28 Policymaking in the World Economy--International Dimensions of Monetary Policy(p. 698)
• Fixed versus Floating Exchange Rates(p. 699)
• Can Central Banks Peg Exchange Rates?(p. 707)
• Link to Management: Inflation, Deflation, and the Choice between Debt and Equity Financing(p. 719)
• Chapter Summary
• Questions and Problems
• Before the Test
• Online Application
• Selected References and Further Reading
• Money Xtra(p. 721)
• Glossary(p. G1)
• Index(p. I1)