Financial Innovation And Monetary Policy
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Author | : Peter Bernholz |
Publisher | : Springer |
Total Pages | : 370 |
Release | : 2014-06-26 |
Genre | : Business & Economics |
ISBN | : 3319061097 |
This book discusses theories of monetary and financial innovation and applies them to key monetary and financial innovations in history – starting with the use of silver bars in Mesopotamia and ending with the emergence of the Eurodollar market in London. The key monetary innovations are coinage (Asia minor, China, India), the payment of interest on loans, the bill of exchange and deposit banking (Venice, Antwerp, Amsterdam, London). The main financial innovation is the emergence of bond markets (also starting in Venice). Episodes of innovation are contrasted with relatively stagnant environments (the Persian Empire, the Roman Empire, the Spanish Empire). The comparisons suggest that small, open and competing jurisdictions have been more innovative than large empires – as has been suggested by David Hume in 1742.
Author | : Michael Pawley |
Publisher | : Routledge |
Total Pages | : 253 |
Release | : 1993-01-01 |
Genre | : Business & Economics |
ISBN | : 9780415075039 |
Author | : Federal Reserve Bank of St. Louis |
Publisher | : Springer |
Total Pages | : 200 |
Release | : 1984-06-30 |
Genre | : Business & Economics |
ISBN | : |
Author | : A. W. Mullineux |
Publisher | : Edward Elgar Publishing |
Total Pages | : 232 |
Release | : 1996-01-01 |
Genre | : Business & Economics |
ISBN | : 9781781959367 |
Financial Innovation, Banking and Monetary Aggregates reviews the impact of financial innovation on the measurement of money and presents the first collection of country studies appraising the usefulness of Divisia indices in deriving monetary aggregates. Monetary aggregates are traditionally formed by simply summing various monetary components such as cash and balances in savings and cheque accounts. The monetary usefulness, or 'moneyness', of these components differs and can change as a result of innovation in banking, monetary transmission and payment services. To gauge the importance of such distortions and the merits of alternative weighted monetary indices, particularly Divisia indices, this volume brings together authoritative empirical studies of countries including the US, the UK, Germany, France, Sweden, Italy and Japan. The authors conclude by showing how Divisia monetary indices act as a useful supplement to traditional monetary aggregates.
Author | : |
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Total Pages | : 0 |
Release | : 1984 |
Genre | : Finance |
ISBN | : |
Author | : Yoshio Suzuki |
Publisher | : |
Total Pages | : 360 |
Release | : 1986 |
Genre | : Banks and banking |
ISBN | : |
Author | : Bank for International Settlements. Monetary and Economic Department |
Publisher | : |
Total Pages | : 310 |
Release | : 1984 |
Genre | : Banks and banking |
ISBN | : |
Author | : Cara S. Lown |
Publisher | : |
Total Pages | : 28 |
Release | : 1987 |
Genre | : Monetary policy |
ISBN | : |
Author | : |
Publisher | : |
Total Pages | : 301 |
Release | : 1984 |
Genre | : |
ISBN | : |
Author | : Lyle E. Gramley |
Publisher | : |
Total Pages | : 0 |
Release | : 1982 |
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