Money and Banking | Robert E. Wright and Vincenzo Quadrini

- 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 Markets
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  - 2.5Financial Intermediaries
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  - 2.6Competition Between Markets and Intermediaries
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  - 2.7Regulation
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  - 2.8Suggested 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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  - 5.3Liquidity Preference
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  - 5.4Predictions and Effects
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  - 5.5Suggested Reading
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- 6The Economics of Interest-Rate Spreads and Yield Curves
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  - 6.1A Short History of Interest Rates
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  - 6.2Interest-Rate Determinants I: The Risk Structure
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  - 6.3The Determinants of Interest Rates II: The Term Structure
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  - 6.4Suggested 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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  - 11.1Public Interest versus Private Interest
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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’s Third Pillar
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  - 11.6Suggested Reading
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- 12The Financial Crisis of 2007–2008
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  - 12.1Financial Crises
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  - 12.2Asset Bubbles
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  - 12.3Financial Panics
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  - 12.4Lender of Last Resort
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  - 12.5Bailouts
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  - 12.6The Crisis of 2007–2008
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  - 12.7Suggested Reading
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- 13Central Bank Form and Function
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  - 13.1America’s Central Banks
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  - 13.2The Federal Reserve System’s Structure
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  - 13.3Other Important Central Banks
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  - 13.4Central Bank Independence
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  - 13.5Suggested Reading
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- 14The Money Supply Process
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  - 14.1The Central Bank’s Balance Sheet
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  - 14.2Open Market Operations
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  - 14.3A Simple Model of Multiple Deposit Creation
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  - 14.4Suggested Reading
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- 15The Money Supply and the Money Multiplier
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  - 15.1A More Sophisticated Money Multiplier for M1
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  - 15.2The M2 Money Multiplier
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  - 15.3Summary and Explanation
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  - 15.4Suggested 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 Quantity Theory
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  - 20.2Liquidity Preference Theory
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  - 20.3Head to Head: Friedman versus Keynes
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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, the Growth Diamond, and Financial Shocks
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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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  - 23.5Financial Shocks
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  - 23.6Suggested 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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