Description
Book SynopsisFrederic S. Mishkin is the Alfred Lerner Professor of Banking and Financial Institutions at the Graduate School of Business, Columbia University. From September 2006 to August 2008, he was a member (governor) of the Board of Governors of the Federal Reserve System.
He is also a research associate at the National Bureau of Economic Research and past president of the Eastern Economics Association. Since receiving his PhD from the Massachusetts Institute of Technology in 1976, he has taught at the University of Chicago, Northwestern University, Princeton University, and Columbia University. He has also received an honorary professorship from the People's (Renmin) University of China. From 1994 to 1997, he was executive vice president and director of research at the Federal Reserve Bank of New York and an associate economist of the Federal Open Market Committee of the Federal Reserve System.
Mishkin's research focuses on monetary policy and its impact on f
Table of Contents
PART 1: INTRODUCTION
- Why Study Financial Markets and Institutions?
- Overview of the Financial System
PART 2: FUNDAMENTALS OF FINANCIAL MARKETS
- What Do Interest Rates Mean and What Is Their Role in Valuation?
- Why Do Interest Rates Change?
- How Do Risk and Term Structure Affect Interest Rates?
- Are Financial Markets Efficient?
PART 3: FUNDAMENTALS OF FINANCIAL INSTITUTIONS
- Why Do Financial Institutions Exist?
- Why Do Financial Crises Occur and Why Are They So Damaging to the Economy?
PART 4: CENTRAL BANKING AND THE CONDUCT OF MONETARY POLICY
- Central Banks and the Federal Reserve System
- Conduct of Monetary Policy
PART 5: FINANCIAL MARKETS
- The Money Markets
- The Bond Market
- The Stock Market
- The Mortgage Markets
- The Foreign Exchange Market
- The International Financial System
PART 6: THE FINANCIAL INSTITUTIONS INDUSTRY
- Banking and the Management of Financial Institutions
- Financial Regulation
- Banking Industry: Structure and Competition
- The Mutual Fund Industry
- Insurance Companies and Pension Funds
- Investment Banks, Security Brokers and Dealers, and Venture Capital Firms
PART 7: THE MANAGEMENT OF FINANCIAL INSTITUTIONS
- Risk Management in Financial Institutions
- Hedging with Financial Derivatives
CHAPTERS ON THE WEB
- Financial Crises in Emerging Market Economies W-1
- Savings Associations and Credit Unions W-22
- Finance Companies