This book strives to bring money and banking up-to-date by providing complete, integrated coverage of topics that are important to the twenty-first century world of money and banking. While covering the basics in the authors' hallmark, reader-friendly manner, this book also uniquely integrates coverage of: the effects of cybertechnology on money, banking and financial institutions; the global financial system; modern expectation concepts along with full coverage of how the Federal Reserve actually conducts monetary policy in the real world.
-- Provides complete discussions of the dramatic developments in payment systems and e-cash mechanisms-the new cyberworld of banking-along with their regulatory and monetary policy implications.
-- Two full chapters are devoted to how the Fed actually conducts monetary policy in the real world, with considerable attention to how the Fed targets the federal funds rate and the broader implications of interest rate targeting for financial markets and the economy.
-- International concepts are fully integrated throughout the text. Topics such as Euromarkets, foreign exchange markets and risks, and purchasing power parity are thoroughly covered
-- Modern expectation concepts and macroeconomic theory are integrated throughout the book.
-- Provides complete discussions of the dramatic developments in payment systems and e-cash mechanisms-the new cyberworld of banking-along with their regulatory and monetary policy implications.
-- Two full chapters are devoted to how the Fed actually conducts monetary policy in the real world, with considerable attention to how the Fed targets the federal funds rate and the broader implications of interest rate targeting for financial markets and the economy.
-- International concepts are fully integrated throughout the text. Topics such as Euromarkets, foreign exchange markets and risks, and purchasing power parity are thoroughly covered
-- Modern expectation concepts and macroeconomic theory are integrated throughout the book.
