Download or read book Bank Deregulation Monetary Order written by George Selgin and published by Routledge. This book was released on 2002-03-11 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: Can the 'invisible hand' handle money? George Selgin challenges the view that government regulation creates monetary order and stability, and instead shows it to be the main source of monetary crisis. The volume is divided into three sections: * Part I refutes conventional wisdom holding that any monetary system lacking government regulation is 'inherently unstable', and looks at the workings of market forces in an otherwise unregulated banking system. * Part II draws on both theory and historical experience to show how various kinds of government interference undermine the inherent efficiency, safety, and stability of a free monetary system. * Part III completes the argument by addressing the popular misconception that a monetary system is unsound unless it delivers a stable output price-level.
Download or read book Bank Deregulation Monetary Order written by George Selgin and published by Routledge. This book was released on 2002-03-11 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Can the 'invisible hand' handle money? George Selgin challenges the view that government regulation creates monetary order and stability, and instead shows it to be the main source of monetary crisis. The volume is divided into three sections: * Part I refutes conventional wisdom holding that any monetary system lacking government regulation is 'inherently unstable', and looks at the workings of market forces in an otherwise unregulated banking system. * Part II draws on both theory and historical experience to show how various kinds of government interference undermine the inherent efficiency, safety, and stability of a free monetary system. * Part III completes the argument by addressing the popular misconception that a monetary system is unsound unless it delivers a stable output price-level.
Download or read book U S Bank Deregulation in Historical Perspective written by Charles W. Calomiris and published by Cambridge University Press. This book was released on 2006-11-02 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book shows how deregulation is transforming the size, structure, and geographic range of U.S. banks, the scope of banking services, and the nature of bank-customer relationships. Over the past two decades the characteristics that had made American banks different from other banks throughout the world--a fragmented geographical structure of the industry, which restricted the scale of banks and their ability to compete with one another, and strict limits on the kinds of products and services commercial banks could offer--virtually have been eliminated. Understanding the origins and persistence of the unique banking regulations that defined U.S. banking for over a century lends an important perspective on the economic and political causes and consequences of the current process of deregulation.
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Download or read book Economic Regulation and Its Reform written by Nancy L. Rose and published by University of Chicago Press. This book was released on 2014-08-29 with total page 619 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past thirty years have witnessed a transformation of government economic intervention in broad segments of industry throughout the world. Many industries historically subject to economic price and entry controls have been largely deregulated, including natural gas, trucking, airlines, and commercial banking. However, recent concerns about market power in restructured electricity markets, airline industry instability amid chronic financial stress, and the challenges created by the repeal of the Glass-Steagall Act, which allowed commercial banks to participate in investment banking, have led to calls for renewed market intervention. Economic Regulation and Its Reform collects research by a group of distinguished scholars who explore these and other issues surrounding government economic intervention. Determining the consequences of such intervention requires a careful assessment of the costs and benefits of imperfect regulation. Moreover, government interventions may take a variety of forms, from relatively nonintrusive performance-based regulations to more aggressive antitrust and competition policies and barriers to entry. This volume introduces the key issues surrounding economic regulation, provides an assessment of the economic effects of regulatory reforms over the past three decades, and examines how these insights bear on some of today’s most significant concerns in regulatory policy.
Download or read book Crisis and Response written by Federal Deposit Insurance Corporation and published by . This book was released on 2018-03-06 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Crisis and Response: An FDIC History, 2008¿2013 reviews the experience of the FDIC during a period in which the agency was confronted with two interconnected and overlapping crises¿first, the financial crisis in 2008 and 2009, and second, a banking crisis that began in 2008 and continued until 2013. The history examines the FDIC¿s response, contributes to an understanding of what occurred, and shares lessons from the agency¿s experience.
Download or read book Free Banking and Monetary Reform written by David Glasner and published by Cambridge University Press. This book was released on 1989-08-25 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book boldly challenges the conventional view that the state must play a dominant role in the monetary system.
Download or read book The Redistributive Effects of Financial Deregulation written by Mr.Anton Korinek and published by International Monetary Fund. This book was released on 2013-12-17 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the distributive implications of financial regulation center stage. We develop a model in which the financial sector benefits from risk-taking by earning greater expected returns. However, risktaking also increases the incidence of large losses that lead to credit crunches and impose negative externalities on the real economy. We describe a Pareto frontier along which different levels of risktaking map into different levels of welfare for the two parties. A regulator has to trade off efficiency in the financial sector, which is aided by deregulation, against efficiency in the real economy, which is aided by tighter regulation and a more stable supply of credit. We also show that financial innovation, asymmetric compensation schemes, concentration in the banking system, and bailout expectations enable or encourage greater risk-taking and allocate greater surplus to the financial sector at the expense of the rest of the economy.
Download or read book Financial Deregulation and Integration in East Asia written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2007-12-01 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: The increased mobility and volume of international capital flows is a striking trend in international finance. While countries worldwide have engaged in financial deregulation, nowhere is this pattern more pronounced than in East Asia, where it has affected in unanticipated ways the behavior of exchange rates, interest rates, and capital flows. In these thirteen essays, American and Asian scholars analyze the effects of financial deregulation and integration on East Asian markets. Topics covered include the roles of the United States and Japan in trading with Asian countries, macroeconomic policy implications of export-led growth in Korea and Taiwan, the effects of foreign direct investment in China, and the impact of financial liberalization in Japan, Korea, and Singapore. Demonstrating the complexity of financial deregulation and the challenges it poses for policy makers, this volume provides an excellent picture of the overall status of East Asian financial markets for scholars in international finance and Asian economic development.
Download or read book How the Other Half Banks written by Mehrsa Baradaran and published by Harvard University Press. This book was released on 2015-10-06 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States has two separate banking systems today—one serving the well-to-do and another exploiting everyone else. How the Other Half Banks contributes to the growing conversation on American inequality by highlighting one of its prime causes: unequal credit. Mehrsa Baradaran examines how a significant portion of the population, deserted by banks, is forced to wander through a Wild West of payday lenders and check-cashing services to cover emergency expenses and pay for necessities—all thanks to deregulation that began in the 1970s and continues decades later. “Baradaran argues persuasively that the banking industry, fattened on public subsidies (including too-big-to-fail bailouts), owes low-income families a better deal...How the Other Half Banks is well researched and clearly written...The bankers who fully understand the system are heavily invested in it. Books like this are written for the rest of us.” —Nancy Folbre, New York Times Book Review “How the Other Half Banks tells an important story, one in which we have allowed the profit motives of banks to trump the public interest.” —Lisa J. Servon, American Prospect
Download or read book Managing the Crisis written by and published by . This book was released on 1998 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Deals with the result of a study conducted by the FDIC on banking crisis of the 1980s and early 1990s. Examines the evolution of the processes used by FDIC and RTC to resolve banking problems, protect depositors and dispose of the assets of the failed institutions.
Download or read book Where Does Money Come From written by Josh Ryan-Collins and published by . This book was released on 2014-01-31 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on detailed research and consultation with experts, including the Bank of England, this book reviews theoretical and historical debates on the nature of money and banking and explains the role of the central bank, the Government and the European Union. Following a sell out first edition and reprint, this second edition includes new sections on Libor and quantitative easing in the UK and the sovereign debt crisis in Europe.
Download or read book The Theory of Free Banking written by George A. Selgin and published by Rowman & Littlefield Publishers. This book was released on 1988 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: To find more information about Rowman and Littlefield titles, please visit www.rowmanlittlefield.com.
Download or read book Balancing the Banks written by Mathias Dewatripont and published by Princeton University Press. This book was released on 2015-09-22 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis that began in 2007 in the US swept the world, producing substantial bank failures and forcing unprecedented state aid for the crippled global financial system. This book draws critical lessons from the causes of the crisis and proposes important regulatory reforms.
Download or read book After Redlining written by Rebecca K. Marchiel and published by University of Chicago Press. This book was released on 2021-09-05 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The story of how American banks helped disenfranchise nonwhite urbanities and condemn to blight the very neighborhoods that needed the most investment is infuriating. And yet, by digging into the history of urban finance, Rebecca Marchiel here illuminates how urban activists changed some banks' behavior to support investment in communities that they had once abandoned. These developments, in turn, affected federal urban policy and reshaped banks' understanding of the role that urban communities play in the financial system. The legacy of reinvestment activism is clouded, but Marchiel's detailing of it transforms our understanding of the history and significance of community/bank relations"--Provided by publisher.
Download or read book Central Banks and Financial Markets written by Hasan Cömert and published by Edward Elgar Publishing. This book was released on 2013 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: ÔHasan CšmertÕs timely book reaches us during the prolonged conditions of the global great recession. By providing a thorough and detailed econometric analysis of the institutional and historical developments of the hegemonic leader of capitalism, Cšmert reveals that the simplistic monetary policy tools of the central banks of the so-called Òmodern great moderationÓ era are over, and we are now at cross-roads of a paradigmatic shift. CšmertÕs book suggests itself as one of the first leading examples of this shift.Õ Ð Erini Yeldan, Yasar University, Turkey ÔThis provocative book shows that the Federal Reserve has, in the last four decades, gradually lost influence over credit and financial markets. This argument, supported by institutional analysis and econometric tests, has two explosive implications: first, Federal Reserve policy did not cause the subprime crisis; second, central banks no longer have instruments for intervening in economies whose growth they are now expected to restore. Anyone concerned with the future of global capitalism should consider ComertÕs work as a matter of urgency.Õ Ð Gary Dymski, Leeds University Business School, UK and University of California, Riverside, US ÔPrior to the outbreak of the financial crisis in 2008, mainstream economists celebrated a ÒNew ConsensusÓ on monetary policy in which independent central banks were assumed able to bring about a ÒGreat ModerationÓ of low inflation and high economic growth by manipulating short-term interest rates. In this important and interesting book, Hasan Cšmert demonstrates convincingly, through institutional analysis and econometrics, that central banks lost control of the price and quantity of credit starting two decades before this celebration. He shows that central banks themselves, through their support of financial market deregulation and globalization, helped bring about both monetary policy impotence and the global crisis. ItÕs a must-read.Õ Ð James Crotty, University of Massachusetts, Amherst, US In the wake of the financial crisis of 2008, there has been increasing debate over the appropriate role of central banks in mitigating economic disaster. This timely volume combines detailed historical and econometric analyses to explore the profound changes that occurred within the US financial system from the 1980s to the present, and shows how these changes have affected the US economy. Hasan Cšmert demonstrates how dramatic shifts in the financial system undermined the ability of the US Federal Reserve to control the price and quantity of credit. He identifies several key factors that facilitated this loss of control, including deregulation, rapid financial innovations, increased financial integration and a number of policy decisions implemented within the Federal Reserve itself. Through a combination of several methods, including historical and institutional analyses, descriptive statistics, simulation and econometric techniques, the author provides a well-rounded and vitally important picture of the US financial system and offers insightful policy recommendations for the future. Students, professors and policymakers with an interest in economics, finance, banking and monetary policy will no doubt find this book a fascinating and invaluable resource.
Download or read book Sequencing Financial Sector Reforms written by International Monetary Fund and published by International Monetary Fund. This book was released on 1991-03-15 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial sector liberalization can spur economic growth and development, but reforms to liberalize the financial sector can also entail risks if they are not properly designed and implemented. One of the central questions for countries reforming their financial systems is how to sequence the reforms so as to maximize the benefits of liberalization and contain its risks. Edited by R. Barry Johnston and V. Sundararajan of the IMF's Monetary and Exchange Affairs Department, this book attempts to answer this and related questions by drawing lessons from financial sector reforms in selected countries. In particular, the book surveys financial sector reforms in Indonesia, Thailand, and Korea between the mid-1980s and mid-1990s.
