TAILIEUCHUNG - Lecture Money, banking, and financial markets: Chapter 20 - Stephen G. Cecchetti, Kermit L. Schoenholtz

Chapter 20 - Money growth, money demand, and modern monetary policy. The goal of this chapter is twofold: To examine the link between money growth and inflation in order to clarify the role of money in monetary policy, and to explain the logic underlying central bankers’ focus on interest rates. | Chapter Twenty 20- Introduction It would be easy to form a clear impression that 21st-century monetary policy has very little to do with money, despite its focus on inflation. Everyone talks about interest rates and exchange rates; no one talks about money. But you will find that central bankers and monetary economists do care about money. We see concern for money, too, in statements made by officials of the ECB. 20- Introduction The FOMC, in July 2000, decided to stop publishing target ranges for the monetary aggregates. They explained that “these ranges [no longer] provide useful benchmarks for monetary policy.” The FOMC rarely makes any references to money in public announcements of the federal funds target rate. 20- Introduction What accounts for the distinctly different treatment of money growth in the two largest central banks in the world? The goal of this chapter is twofold: To examine the link between money growth and inflation in order to clarify .

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• Financial markets
• Financial system
• Financial institutions
• Central banks
• Monetary policy
• Bond prices
• Lecture Financial markets
• Thị trường tài chính
• Financial futures markets
• Valuation of financial futures
• Interest rate futures
• Lecture Financial markets and institutions
• Financial institutions markets
• Capital markets
• Money markets
• Derivative securities markets
• Futures markets
• Option markets
• Swap markets
• Foreign exchange derivative markets
• Bank management
• Types of Financial Markets
• Securities traded
• Valuation of securities
• Money market yields
• Bond markets
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• Primary mortgage market
• Stock markets
• Common stock
• Foreign exchange markets
• Foreign exchange
• Commercial banks
• Financial statements
• Risks at financial institutions
• Market risk
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• Economics 252
• Efficient markets
• Excess volatility
• Efficient Markets Hypothesis
• Interest rate derivative markets
• Interest rate swaps
• Mortgage backed securities
• Globalization of mortgage markets
• Financial markets and institutions
• The financial system
• Interest rates change
• Financial markets efficient
• Term structure affect interest rates
• The stock market
• The mortgage markets
• The international financial system
• Financial regulation
• Interest rate fundamentals
• Interest rates
• Security valuation