By Peter Howells, Keith Bain
The Economics of cash, Banking and Finance offers with overseas matters affecting monetary markets. Taking a powerful unifying theoretical viewpoint it presents a different comparative survey of monetary structures within the united kingdom, Germany, France, Italy, Scandinavia and the united states. confirmed well liked by scholars, the author's first-class writing variety guarantees fiscal theories are truly defined, when the copious use of literature and articles from the monetary press provide scholars a real-life framework to the speculation. Assuming a uncomplicated grounding in economics ideas, this e-book might be appropriate for a variety of one and semester classes in: banking, monetary economics, monetary providers, finance, and cash, banking and finance.
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Extra info for The Economics Of Money, Banking And Finance: A European Text
We turn to this crucially important transformation process in the next section. Continuing our parallels with other types of ﬁrm, ﬁnancial institutions derive revenue from their outputs. Most obviously, this revenue accrues from the interest that borrowers pay on the loans made by ﬁnancial institutions. Where institutions are holding portfolios of securities their revenue comes from the dividend and interest payments on those securities. Where institutions offer off-balance-sheet services to customers, they charge fees.
4 With which ﬁnancial institutions do you deal? Identify those with which you deal as a deﬁcit unit and those with which you deal as a surplus unit. Which of them are deposit-taking institutions? Which of them are not? 5 Distinguish between broking and intermediation. 6 Why do people hold ﬁnancial assets and liabilities simultaneously? 7 How are ﬁnancial intermediaries able to engage in maturity transformation? Further reading A D Bain, The Financial System (Oxford: Blackwell, 2e, 1992) Ch. 1 D Blake, Financial Market Analysis (London: McGraw-Hill, 2e, 2000) Ch.
Another reason why an optimum allocation of funds may not occur lies in either the poverty or asymmetry of information. Acquiring information about the best returns available takes time and thus has a cost attached to it. Many people will think such costs not worth incurring. For many years, most European governments have been able to borrow from households more cheaply than from any other source and this may be as much the result of households’ reluctance to search for better returns as it is the result of a desire for high security.