Your cart is empty
Money and Banking provides an original and comprehensive interpretation of the debate on banking and the nature of money in Keynes's time from a post Keynesian point of view. The book traces the pre-history of monetary circuit theory and its challenge to mainstream analysis in the first four decades of the century, contrasting the neoclassical approach with the monetary theory of production. The author comprehensively examines and reconstructs the contributions of both well-known and more neglected authors to the debate on the nature of money and the function of the banks, from the viewpoint of a circuit theorist. He concludes with a comprehensive account of heterodox analyses of the creation of money by banks, beginning with Wicksell and ending with British and American proponents of 'free banking'.
Throughout the thirteenth century Western European monarchs were hampered by the failure of their traditional revenues to meet their new expenses. Edward I of England solved the primary problem of acquiring adequate funds with the imposition of a duty on wool and leather and by more frequent direct taxes. But collection was slow and irregular; there still remained the problem of liquidity. To ensure a steady flow of cash to meet his military, administrative, and diplomatic needs Edward developed a special relationship with a company of Italian merchant-bankers, the Societas Riccardorum de Luka. Richard W. Kaeuper analyzes this relationship to provide valuable information on the financial needs of the king's government and its daily routine at a critical stage in its development. Equally interesting is the examination of the operations of the Italian banking houses that were becoming prominent in the economic life of northwestern Europe and were to become famous in the fourteenth century. Originally published in 1973. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
This book provides insight into current research topics in finance and banking in the aftermath of the financial crisis. In this volume, authors present empirical research on liquidity risk discussed in the context of Basel III and its implications. Chapters also investigate topics such as bank efficiency and new bank business models from a business diversification perspective, the effects on financial exclusion and how liquidity mismatches are related with the bank business model. This book will be of value to those with an interest in how Basel III has had a tangible impact upon banking processes, particularly with regard to maintaining liquidity, and the latest research in financial business models.
The ramifications of the Global Financial Crisis, which erupted in 2007, continue to surprise not only the general public but also finance professionals, economists and journalists. Faced with this challenge, "Preparing for the Next Financial Crisis" goes back to basics. The authors ask: what do theory and empirical observations tell us about the causes and the consequences of financial crisis and instability? In what has become an increasingly complex financial world, what lessons can we learn from economic policies, which have been implemented, and research, which has developed extremely rapidly in recent years, so as not to repeat past mistakes? In this comprehensive review of the literature, which is both complete and balanced, the authors highlight the points of consensus among economists and policy makers. They assess the capacity of economic policies and institutions in limiting the cost of financial instability. In conclusion, they ask if the financial system has become safer, in the light especially of the Covid-19 Global Crisis. Ten years after the GFC crisis, this is a timely review of the reform agenda, the progress made and the areas where further changes need to be made to address new risks and challenges. Olivier de Bandt, who holds a PhD from the University of Chicago, is an economist and researcher associated with the University of Paris-Nanterre. He is an associate editor of the Journal of Financial Stability. Francoise Drumetz and Christian Pfister are also economists. They teach the Financial Stability course in the Sciences Po School of Public Affairs (Paris).
The Front Office Manual is unique, providing clear and direct explanations of tools and techniques relevant to front office work. From how to build a yield curve, to how a swap works, to what exactly 'product control' is supposed to do, this book is essential reading for anyone who works (or wants to work) on the 'sell side'.
The International Monetary Fund (IMF) is the institution designed to support global trade and economic growth by helping to maintain stability in the international financial system. Originally created to finance short-term balance of payments deficits during the Bretton Woods Era of gold/dollar fixed exchange rates (1944--1971), in the current world where flexible exchange rates dominate in the industrial economics, it has focused on developing countries where ever larger financial crises have erupted. The book provides a basic understanding of its mission and operations, and how they may have evolved. A comprehensive bibliography is included with easy access by subject, author and title indexes.
Central bank independence is a key issue for political and monetary authorities in many countries. In Institutions and Monetary Policy, Eric Schaling looks at the impact of different central banks on price stability and macroeconomic performance, and their optimal degree of legislative independence. After introducing and surveying the rules versus discretion debate in monetary policy, Eric Schaling then investigates the relationship between domestic monetary institutions and macroeconomic performance. The author compares central bank independence in twelve industrial countries - Australia, Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, the United Kingdom, the United States, Sweden and Switzerland - and prepares an index of his results. The relationship between central bank independence, inflation and output growth is extensively discussed and a series of propositions tested for the same set of countries over the period from 1972 to 1991. Normative issues are investigated in the later part of the book including the optimal degree of central bank independence in relation to, first, the inflation rate and, second, wage formation in a totally unionized economy. Institutions and Monetary Policy will be welcomed by scholars and policymakers concerned with the increasingly important role of institutions in monetary policy and the relation between degrees of central bank independence and political and economic outcomes.
Banking, Politics and Global Finance presents an innovative, micro-political examination of the US banking system's response to the ongoing globalization of financial markets. This approach contrasts sharply with earlier studies which have emphasized the macro-structural aspects of politics through concentrating on elements of stability and consistency in the policy responses by advanced industrial countries to external economic pressures. By micro-political analysis of policy making, this book reveals a multitude of changes in the interests, coalitions and power constellations among private and public sector actors and institutions in the US financial system, in the absence of any macrostructural adjustment. These changes have opened alternative channels for policy making leading to substantial adjustments in the regulatory framework governing US financial markets. Using detailed discussion of the unsuccessful attempts to repeal the law that separates commercial from investment banking - the Glass-Steagall Act - and the successful raising of the capital standards of US commercial banks, Dr Reinicke's book also explains why the same policy network can respond very differently to an external economic challenge - a phenomenon usually neglected in the literature on comparative political economy.
Public Sector Enterprises in India is a comprehensive and authoritative work covering the entire public sector in India, including the financial sector public enterprises such as banks and insurance companies. The book begins with the philosophy behind the public sector and traces its evolution in India and its subsequent privatisation and disinvestment after the economic liberalisation of 1991. Based on the most up-to-date data and the latest developments, it examines the plight and options of a public sector paralysed by excessive government interference and now trapped hopelessly between the State and the market. Drawing widely upon global experiences, the book argues that disinvestment and privatisation need not be the only answer to reform the public sector companies. They can be rejuvenated and transformed into global champions if freed from the stifling controls by an unimaginative government machinery, by depoliticisation and separation of the government's roles as a majority stakeholder, policy-maker and regulator-and by changing their holding structure.
Being able to make and receive payments is an essential facet of modern life. It is integral to the banking and finance systems, and it touches all global citizens. In some areas, payment systems are rapidly evolving - moving swiftly from paper payment instruments, to electronic, to real-time - but in others, underdeveloped payment systems hold back economic and social development. This book is intended to assist the reader in navigating the payments landscape. The author explores highly topical areas, such as the role of payment systems in enabling commerce to contribute to the development of emerging economies, the evolution of payment systems from paper instruments to computerization, the role of cryptocurrencies, and the slow decline of plastic credit and debit cards owing to alternative forms of payment being introduced. Altogether, this book provides a comprehensive overview of the evolution of payment and offers projections for the future, encouraging readers to explore their own predictions, using the framework that the book has provided. It is vital reading for technologists, marketers, executives and investors in the FinTech sector, as well as academics teaching business and technology courses.
Traditionally, counterfeit deterrent features restricted counterfeiting to only the dedicated craftsman. With the advent of highly sophisticated reprographic systems, this is no longer true. Redesign of U.S. banknotes is necessary in order to incorporate additional features aimed at discouraging counterfeiting using advanced copiers-scanners-printers. This volume evaluates a large number of such features while recommending a comprehensive national strategy for anticipating and responding to counterfeiting threats.
This book is a result of several years of research to provide readers with a novel and comprehensive analysis on business models in banking, essential to understanding bank businesses pre- and post- financial crisis and how they evolve in the financial system. This book will provide depositors, creditors, credit rating agencies, investors, regulators, supervisors, and other market participants with a comprehensive analytical framework and analysis to better understand the nature of risk attached to the bank business models and its contribution to systemic risk throughout the economic cycle. The book will also guide post-graduate students and researchers delving into this topic.
This book offers a comprehensive guide to the modelling of operational risk using possibility theory. It provides a set of methods for measuring operational risks under a certain degree of vagueness and impreciseness, as encountered in real-life data. It shows how possibility theory and indeterminate uncertainty-encompassing degrees of belief can be applied in analysing the risk function, and describes the parametric g-and-h distribution associated with extreme value theory as an interesting candidate in this regard. The book offers a complete assessment of fuzzy methods for determining both value at risk (VaR) and subjective value at risk (SVaR), together with a stability estimation of VaR and SVaR. Based on the simulation studies and case studies reported on here, the possibilistic quantification of risk performs consistently better than the probabilistic model. Risk is evaluated by integrating two fuzzy techniques: the fuzzy analytic hierarchy process and the fuzzy extension of techniques for order preference by similarity to the ideal solution. Because of its specialized content, it is primarily intended for postgraduates and researchers with a basic knowledge of algebra and calculus, and can be used as reference guide for research-level courses on fuzzy sets, possibility theory and mathematical finance. The book also offers a useful source of information for banking and finance professionals investigating different risk-related aspects.
The European Union is at a crossroads. This book analyzes the historical roots of the EU's monetary and financial institutions in order to better understand its struggle to maintain an economic and monetary union, as well as the ongoing problems facing the Euro. The institutions of the EU are based on the operation of free markets, a common monetary policy, and the European Central Bank. These founding policies have created many of the imbalances at the root of the ongoing European recession. Reemerging threats of populism and localism are poised to further disintegrate the European construction and may spark fierce opposition between countries. Acocella engages with these risks, suggesting detailed actions for reform within the EU and its institutions that may steer it away from further conflict, allowing it to better serve its member states and citizens.
This book evaluates key commercial law aspects of the relevant law and legislation governing residential mortgage-backed securities (RMBSs) in Australia from a legal perspective. Within the context of a "public benefit test" framework, the book seeks to critically evaluate the impact and effectiveness of current law and regulation governing RMBSs. There is a dearth of both academic and practical literature on the legal and regulatory issues surrounding RMBSs in Australia. The book aims to make a contribution to the formulation of law and public policy by suggesting a number of reforms to the current law and practice surrounding RMBSs in Australia. In part, these suggested reforms will be based on the lessons learned from the experiences of overseas jurisdictions such as Canada, the U.K, and the United States.
This book focuses on Fintech regulation in Asian, situating local developments in broader economic, regulatory and technological contexts. Over the last decade, Fintech - broadly defined as the use of new information technologies to help financial institutions and intermediaries compete in the marketplace - has disrupted the financial services sector. Like other 21st century technological developments, Fintech is a global phenomenon that plays out in local economic, political and regulatory contexts, and this dynamic interplay between global trends and local circumstances has created a complex and fast-changing landscape. Diverse stakeholders (most obviously incumbent financial service providers, tech start-ups and regulators) all pursue a competitive edge against a background of profound uncertainty about the future direction and possible effects of multiple emerging technologies. Compounding these difficulties are uncertainties surrounding regulatory responses. Policymakers often struggle to identify appropriate regulatory responses and increasingly turn to policy experimentation. Such issues add to the challenges for the various actors operating in the Fintech space. This situation is particularly fluid in Asia, since many jurisdictions are seeking to establish themselves as a regional hub for new financial services.
You may like...
Banking in Oklahoma Before Statehood
Michael J Hightower Hardcover R841 Discovery Miles 8 410
Research Handbook on Shadow Banking…
Iris H-Y Chiu, Iain G. MacNeil Hardcover R5,154 Discovery Miles 51 540
Handbook of Competition in Banking and…
Jacob A. Bikker, Laura Spierdijk Paperback R1,081 Discovery Miles 10 810
Mastering Securities Lending…
Christian Johnson, Paul Harding Paperback
The New International Money Game
Robert Z. Aliber Paperback R1,195 Discovery Miles 11 950
Risk Management and Capital Adequacy
Reto Gallati Hardcover
Principles of Banking Regulation
Kern Alexander Paperback R962 Discovery Miles 9 620
Handbook of International Banking
Andrew W. Mullineux, Victor Murinde Paperback R1,569 Discovery Miles 15 690
Dark Towers - Deutsche Bank, Donald…
David Enrich Paperback
Dark Towers - Deutsche Bank, Donald…
David Enrich Hardcover