{"product_id":"finance-and-financial-intermediation-a-modern-treatment-of-money-credit-and-banking-9780190941703","title":"Finance and Financial Intermediation: A Modern Treatment of Money, Credit, and Banking","description":"The financial system is a densely interconnected network of financial intermediaries, facilitators, and markets that serves three major purposes: allocating capital, sharing risks, and facilitating intertemporal trade. Asset prices are an important mechanism in each of these phenomena. Capital\u003cbr\u003eallocation, whether through loans or other forms of investment, can vary both across sectors-at the broadest, manufactures, agriculture, and services-and within sectors, for example different firms. The risk that various investors are willing to take reflects their financial position and alternative\u003cbr\u003eopportunities. Risk and asset allocation are also influenced by whether money, and especially its expenditure, is more important now or in the future. These decisions are all influenced by governmental policies. When there are mismatches, the results include financial meltdowns, fiscal deficits, \u003cbr\u003esovereign debt, default and debt crises. \u003cp\u003e\u003c\/p\u003eHarold L. Cole provides a broad overview of the financial system and assets pricing, covering history, institutional detail, and theory. The book begins with an overview of financial markets and their operation and then covers asset pricing for standard assets and derivatives, and analyzes what\u003cbr\u003emodern finance says about firm behavior and capital structure. It then examines theories of money, exchange rates, electronic payments methods, and cryptocurrencies. After exploring banks and other forms of financial intermediation, the book examines the role they played in the Great Recession.\u003cbr\u003eHaving provided an overview of the provate sector, Cole switches to public finance and government borrowing as well as the incentives to monetize the public debt and its consequences. The book closes with an examination of sovereign debt crises and an analysis of their various forms.\u003cbr\u003eFinance and financial intermediation are central to modern economies. This book covers all of the material a sophisticated economist needs to know about this area.\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Harold L. Cole\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Oxford University Press, USA\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 04\/30\/2019\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 262\u003cbr\u003e\u003cb\u003eBinding Type:\u003c\/b\u003e Paperback\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.10lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.30h x 6.30w x 0.80d\u003cbr\u003e\u003cb\u003eISBN:\u003c\/b\u003e 9780190941703\u003cbr\u003e\u003cp\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003e\u003cstrong\u003eHarold L. Cole \u003c\/strong\u003eis a Professor of Economics at the University of Pennsylvania and the Editor of the International Economic Review. He is a Fellow of the Econometric Society and the Society for the Advancement of Theory. He is a research associate of the NBER and a visiting scholar at the Federal\u003cbr\u003eReserve Banks of Philadelphia\u003cbr\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003e\u003ci\u003eThis title is not returnable\u003c\/i\u003e\u003cbr\u003e\u003c\/p\u003e","brand":"Oxford University Press, USA","offers":[{"title":"Paperback","offer_id":39929231900787,"sku":"9.78E+12","price":49.95,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0555\/9255\/0515\/products\/img_30df0e34-e60a-47c5-9cf2-c9615bc8d2bc.jpg?v=1647612175","url":"https:\/\/bookstorenmore.com\/en-de\/products\/finance-and-financial-intermediation-a-modern-treatment-of-money-credit-and-banking-9780190941703","provider":"Bookstore N More","version":"1.0","type":"link"}