Download or read book Essays on Money Banking and Regulation written by C.J.M Kool and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essays on Money, Banking and Regulation honors the interests and achievements of the Dutch economist Conrad Oort. The book is divided into four parts. Part 1 - Fiscal and monetary policy - reviews a variety of topics ranging from the measurement of money to the control and management of government expenditures. Part 2 - International institutions and international economic policy - looks at the international dimension of monetary and fiscal policy, with extensive discussion of the International Monetary Fund and the European Monetary Union. Part 3 - The future of international banking and the financial sector in the Netherlands - is an insider's view of the strategic choices facing financial institutions in the near future. Finally, Part 4 - Taxation and reforms in the Dutch tax system - is closest to Oort's research and practice since he has become known as an architect of the 1990 Dutch tax reform; this part is dedicated in particular to the tax reforms suggested by Oort.

Download or read book Monetary and Banking History written by Geoffrey Wood and published by Taylor & Francis. This book was released on 2011-05-11 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Forrest Capie is an eminent economic historian who has published extensively on a wide range of topics, with an emphasis on banking and monetary history, particularly in the nineteenth and twentieth centuries, but also in other areas such as tariffs and the interwar economy. He is a former editor of the Economic History Review, one of the leading academic journals in this discipline. Under the steely editorship of Geoffrey Wood, this book brings together a stellar line of of contributors - including Charles Goodhart, Harold James, Michael Bordo, Barry Eichengreen, Charles Calomiris, and Anna Schwartz. The book analyzes many of the mainstream themes in economic and financial history - monetary policy, international financial regulation, economic performance, exchange rate systems, international trade, banking and financial markets - where historical perspectives are considered important. The current wave of globalisation has stimulated interest in many of these areas as ‘lessons of history’ are sought. These themes also reflect the breadth of Capie’s work in terms of time periods and topics.

Download or read book Banking Monetary Policy and the Political Economy of Financial Regulation written by Gerald A. Epstein and published by Edward Elgar Publishing. This book was released on 2014-07-31 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: The many forces that led to the economic crisis of 2008 were in fact identified, analyzed and warned against for many years before the crisis by economist Jane D�Arista, among others. Now, writing in the tradition of D�Arista's extensive work, the

Download or read book Money and the Market written by Kevin Dowd and published by Routledge. This book was released on 2013-12-16 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Kevin Dowd asserts that state intervention into financial and monetary systems has failed, and that we would be better off if financial markets were left to regulate themselves. This collection will appeal to students, researchers and policy makers in the monetary and financial area.

Download or read book Competition and Currency written by Lawrence H. White and published by NYU Press. This book was released on 1989 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Lawrence H. White deals with a major issue of the 1990s—reprivatization of money. He makes a cogent argument and presents evidence that private, competing currencies would provide more monetary stability than do central banks. Surprisingly enough, modern private money may emerge first in Eastern Europe, where the gap between the economy's need and the government's money is greates." —Richard Rahn, Vice President and Chief Economists, U.S. Chamber of Commerce. "Boldly, White makes a persuasive case for free banking....In time, we may well look back and regard Competition and Currency as crucial in the development of the economy and economic thought of the future." — The New York City Tribune "White is a leading analyst of a laissez-faire monetary system featuring a privately issued money supply. HIs perceptive insights force a rethinking of our present regulated monetary system and of what kind of reforms will remedy its defects. Avery worthwhile collection of essays for all students of monetary theory." —Philip Cagan, Columbia University "White is a leading analyst of a laissez-faire monetary system featuring a privately issued money supply. HIs perceptive insights force a rethinking of our present regulated monetary system and of what kind of reforms will remedy its defects. A very worthwhile collection of essays for all students of monetary theory." —Phillip Cagan, Columbia University "Newcomers to the literature...would be recommended to start with White's volume, where each paper is self-contained in its handling of particular aspects of free banking...Highly recommended as clear, well-argued expositions of the case for free banking, challenging assumptions common to much of monetary economics. It is particularly apposite that these assumptions be questioned at a time when institutional reform is so much on the agenda." —Sheila C. Dow, The Economic Journal

Download or read book An Essay on Currency and Banking written by Thomas Smith (Accountant) and published by . This book was released on 1832 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Monetary and Banking History written by Geoffrey Wood and published by Routledge. This book was released on 2011-05-11 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: Forrest Capie is an eminent economic historian who has published extensively on a wide range of topics, with an emphasis on banking and monetary history, particularly in the nineteenth and twentieth centuries, but also in other areas such as tariffs and the interwar economy. He is a former editor of the Economic History Review, one of the leading academic journals in this discipline. Under the steely editorship of Geoffrey Wood, this book brings together a stellar line of of contributors - including Charles Goodhart, Harold James, Michael Bordo, Barry Eichengreen, Charles Calomiris, and Anna Schwartz. The book analyzes many of the mainstream themes in economic and financial history - monetary policy, international financial regulation, economic performance, exchange rate systems, international trade, banking and financial markets - where historical perspectives are considered important. The current wave of globalisation has stimulated interest in many of these areas as ‘lessons of history’ are sought. These themes also reflect the breadth of Capie’s work in terms of time periods and topics.

Download or read book The Fundamental Principles of Financial Regulation written by Charles Albert Eric Goodhart and published by Centre for Economic Policy Research. This book was released on 2009 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analytical background -- Nature of systemic risk -- Who should be regulated (by whom) -- Counter-cyclical regulation -- Regulation of liquidity and maturity mismatches -- Other regulatory issues -- The structure of regulation -- Conclusions -- Appendix : the boundary problem in financial regulation -- Discussion and roundtables.

Download or read book Essays on the Interaction of Monetary and Banking Regulation Policies written by Diana M. Lima and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book International Financial Policy written by Mr.Jacob A. Frenkel and published by International Monetary Fund. This book was released on 1991-09-15 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt: During his distinguished career at the IMF, Jacques J. Polak served as both Director of Research and, subsequently as a member of the IMF Executive Board. His distinct contribution to the discipline of international financial policy is highlighted in this book edited by Jacob A. Frenkel and Morris Goldstein. The papers included were prepared for a conference, cosponsored by the Netherlands Bank and the IMF, held in Polak's honor in Washington, D.C., in January 1991.

Download or read book The Money Problem written by Morgan Ricks and published by University of Chicago Press. This book was released on 2016-03-09 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: An “intriguing plan” addressing shadow banking, regulation, and the continuing quest for financial stability (Financial Times). Years have passed since the world experienced one of the worst financial crises in history, and while countless experts have analyzed it, many central questions remain unanswered. Should money creation be considered a “public” or “private” activity—or both? What do we mean by, and want from, financial stability? What role should regulation play? How would we design our monetary institutions if we could start from scratch? In The Money Problem, Morgan Ricks addresses these questions and more, offering a practical yet elegant blueprint for a modernized system of money and banking—one that, crucially, can be accomplished through incremental changes to the United States’ current system. He brings a critical, missing dimension to the ongoing debates over financial stability policy, arguing that the issue is primarily one of monetary system design. The Money Problem offers a way to mitigate the risk of catastrophic panic in the future, and it will expand the financial reform conversation in the United States and abroad. “Highly recommended.” —Choice

Download or read book Essays in Banking and Regulation written by Tirupam Goel and published by . This book was released on 2016 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: The broad goal of this dissertation is to further our understanding of the relationship between real and financial sectors of an economy, to identify inefficiencies in financial sector intermediation, and to design financial regulation policies that can address these inefficiencies. The three chapters of this dissertation contribute to specific aspects of the above goal. In the first chapter, I develop a general equilibrium macroeconomic model with a dynamic banking sector in order to characterize optimal size-dependent bank leverage regulation. Bank leverage choices are subject to the risk-return trade-off, and are inefficient due to financial frictions. I show that leverage regulation can generate welfare gains, and that optimal regulation is tighter relative to the benchmark and is bank-size dependent. In particular, optimal regulation is tighter for large banks relative to small banks, and it leads to the following welfare generating effects. First, as small banks take more leverage, they grow faster conditional on survival, leading to a selection effect. Second, small bank failures are less costly while entrants have higher relative efficiency, leading to a cleansing effect. Third, tighter regulation for large banks reduces their failure rate, which generates welfare since large banks are more efficient and costlier to replace, leading to a stabilization effect. The calibrated model rationalizes various steady state moments of the US banking industry, and points towards qualitatively similar but quantitatively tighter leverage regulation relative to the proposition in Basel III accords. In the second chapter, I study the financial contagion problem when banks in order to hedge against idiosyncratic shocks, engage in two-dimensional as opposed to one-dimensional interactions with other banks. To this end, I develop a double-edge interbank network model where banks engage in debt contract and securitization transactions with other banks. I show that the standard intuition of financial contagion does not translate from the one-dimensional case to the two-dimensional case i.e. financial contagion can either weaken or worsen depending on the network and parameter configuration. In particular, I derive parametrization for the case where financial contagion worsens. In the third chapter, we investigate whether countercyclical capital-ratio regulation (CCR) should be implemented strictly as a rule, or whether regulators should have discretion with respect to the timing and magnitude of changes in capital-ratio requirement. Using a simple model we prove the proposition that under information asymmetry, discretionary CCR leads to an increase in policy uncertainty relative to rule-based CCR. We prove a similar proposition for a general finite-horizon economy. Finally, we document that since discretionary CCR enables the regulator to respond to unexpected shocks, a benevolent regulator faces the welfare trade-off while choosing between rule-based and discretionary CCR.

Download or read book Current Federal Reserve Policy Under the Lens of Economic History written by Owen F. Humpage and published by Cambridge University Press. This book was released on 2015-03-05 with total page 765 pages. Available in PDF, EPUB and Kindle. Book excerpt: In December 2012, as a kick-off to the Federal Reserve System's centennial, the Federal Reserve Bank of Cleveland asked leading monetary historians and macroeconomic economists to address current and recurring economic concerns that confront central banks from a historical perspective. The resulting papers, published in this volume, cover a wide range of issues, including the meaning of central-bank independence, the role of communications and rules in fostering credibility, the evolution of the lender-of-last-resort function, the mechanism through which banks transmit economic shocks, and prospects for a European monetary union. A retrospective on the Federal Reserve, this book contains essays by some of the world's most prominent financial historians and provides a thorough overview of the evolution of the monetary standard over the past two centuries. Offering historical context as a complement to economic theory and empiricism, these papers investigate how financial infrastructure shapes economic outcomes through comparisons of Canada and the United States.

Download or read book Why the World Economy Needs a Financial Crash and Other Critical Essays on Finance and Financial Economics written by Jan Toporowski and published by Anthem Press. This book was released on 2010-12-01 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays in this volume explain the key structural features of financial inflation that give rise to financial crisis. These features include excessive reliance on finance to maintain economic activity through rising asset prices. Reliance on asset inflation induces a preoccupation with property values and a new social divide between the asset-rich and the asset-poor that undermines the culture of the welfare state. When debt can no longer be supported by cash flow from asset markets, excess debt plunges economies into economic depression.

Download or read book The Central Bank and the Financial System written by Charles Albert Eric Goodhart and published by MIT Press. This book was released on 1995 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: As economic advisor to the Bank of England for many years, C. A. E. Goodhart is uniquely positioned to assess the role of the central bank in the modern financial system. This book brings together twenty-one of his previously published articles dealing with the changing functions of central banks over time, recent efforts to maintain price stability, and debates over specific financial regulation proposals in the UK. Although the current day-to-day operations of central banks are subject to continuous comment and frequent criticism, their structural role within the economic system as a whole has generally been accepted without much question, despite several attempts by economists in recent decades to challenge the value of the institution. C. A. E. Goodhart brings his knowledge of both the theoretical arguments and the actual working of central banks to bear in these essays. Part I looks at the general purposes and functions of central banks within the financial system and their evolution over time. Part II concentrates on the current objectives and operations of central banks, and the maintenance of price stability in particular. Part III analyzes the broader issues of financial regulation.

Download or read book Banking Modern America written by Jesse Stiller and published by Routledge. This book was released on 2016-10-04 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The passage of the National Currency Act of 1863 gave the United States its first uniform paper money, its first nationally chartered and supervised commercial banks, and its first modern regulatory agency: the Office of the Comptroller of the Currency. The law marked a milestone in the development of the U.S. financial system and the modern administrative state. Yet its importance has been largely overlooked. Banking Modern America aims to address that gap. With its unique multidisciplinary approach that brings together scholars from disciplines including history, economics, the law, and finance, this book lends a new dimension to studying the origins and development of a system that touched key aspects of modern America. Chapters examine key episodes in the history of Federal banking, looking at the Civil War origins of the national banking system and the practical challenges of setting up a new system of money and banking. The essays in this volume explore the tensions that arose between bankers and Federal regulators, between governmental jurisdictions, and even between regulators themselves. This book will be essential reading for academics of banking and finance, regulation, numismatics and history, as well as professional economists, historians and policy makers interested in the history of the US financial system.

Download or read book Money Banking and Inflation written by Thomas M. Humphrey and published by Edward Elgar Publishing. This book was released on 1993 with total page 768 pages. Available in PDF, EPUB and Kindle. Book excerpt: Money, Banking and Inflation focuses on such traditional central banking concerns as money stock control, price level stabilization, interest rates smoothing, exchange rate targeting, lender-of-last-resort responsibilities, limitations imposed by short-run tradeoffs and non-neutralities, and appropriate responses to supply shocks.