Economics Of Money, Banking And Financial Markets - 9th edition

Frederic S. Mishkin is the Alfred Lerner Professor of Banking and Financial Institutions at the Graduate School of Business, Columbia University. He is also a Research Associate at the National Bureau of Economic Research, and from September 2006 to August 2008 was a member (governor) of the Board of Governors of the Federal Reserve System. He has also been a Senior Fellow at the FDIC Center for Banking Research, and past President of the Eastern Economic Association. Since receiving his PhD from the Massachusetts Institute of Technology in 1976, he has taught at the University of Chicago, Northwestern University, Princeton University, and University Columbia. He has also received an honorary professorship from the Peoples (Renmin) University of China. From 1994 to 1997 he was Executive Vice President and Director of Research at the Federal Reserve Bank of New York and an associate economist of the Federal Open Market Committee of the Federal Reserve System.

Table of Contents
Pt. I Introduction 1
1 Why Study Money, Banking, and Financial Markets? 3
2 An Overview of the Financial System 20
3 What is Money? 48
Pt. II Financial Markets 67
4 Understanding Interest Rates 69
5 Portfolio Choice 94
6 The Behavior of Interest Rates 104
7 The Risk and Term Structure of Interest Rates 143
8 The Foreign Exchange Market 165
Pt. III Financial Institutions 193
9 Economic Analysis of Banking Structure 195
10 The Banking Firm and the Management of Financial Institutions 226
11 Banking Industry: Structure and Competition 264
12 Economic Analysis of Banking Regulation 296
13 Nonbank Financial Institutions 332
14 Financial Derivatives 354
Pt. IV Central Banking and the Conduct of Monetary Policy 387
15 Structure of Central Banks and the Federal Reserve System 389
16 Multiple Deposit Creation and the Money Supply Process 414
17 Determinants on the Money Supply 435
18 Tools of Monetary Policy 458
19 Conduct of Monetary Policy: Goals and Targets 474
20 International Financial System 502
Pt. V Monetary Theory 527
21 The Demand for Money 529
22 The Keynesian Framework and the ISLM Model 555
23 Monetary and Fiscal Policy in the ISLM Model 580
24 Aggregate Demand and Supply Analysis 603
25 Transmission Mechanisms of Monetary Policy: Evidence 629
26 Money and Inflation 659
27 Theory of Rational Expectations and Efficient Capital Markets 686
28 Rational Expectations: Implications for Policy 710