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Not only exploring the impact of the Federal Reserve and central banking on monetary policy, he also analyzes the role of non-bank financial intermediaries.How can monetary policy resolve the instability of the US financial system?
Giorgio Pizzutto is Professor and Head of the Department of Economics, Management and Quantitative Methods at the University of Milan, Italy.
Chapter 1: Introduction.- Chapter 2: The US financial system from the National Banking Act to the crisis of 2007.- Chapter 3: The birth of the Federal reserve and its monetary policy.- Chapter 4: Non bank financial intermediaries and the crisis of 1929.- Chapter 5: The Great Depression.- Chapter 6: The money market after the second world war: securitization and the role of dealers.- Chapter 7: Monetary policy, spread compression and the house market.- Chapter 8: The money market, the collateral market and the crisis of 2007-08.- Chapter 9 Conclusions.