Financial Institutions and Markets
Author: Meir G Kohn
Why do financial institutions and markets have the structure they do? Why is that structure changing? These questions are central to the scope and purpose of Meir G. Kohn's Financial Institutions and Markets, 2/e. Unlike most books designed for financial markets and institutions courses, this successful text focuses on the "why" of existing and evolving markets and instruments as well as the "how."
Financial Institutions and Markets, 2/e, makes clear the general principles and economic functions underlying all financial intermediaries. It provides a thorough discussion of the specifics of banking, insurance, pension funds, and mutual funds. In a similar fashion, the book elucidates the general principles and economic functions common to all financial markets and offers an in-depth look at the specifics of the particular markets for government securities, mortgages, corporate debt, equity, and derivatives. The final section addresses the management of liquidity and risk and discusses the safety, stability, and regulation of financial intermediaries and financial markets.
Each chapter begins with a list of study objectives and concludes with a summary. Key terms are listed at the end of each chapter and defined in marginal glossaries as they occur in the text. End-of-chapter questions are included to provide a stimulus for discussion. Accessible to a wide range of students, Financial Institutions and Markets, 2/e, is ideal for courses in financial institutions, financial markets, or a combination of institutions and markets at either the undergraduate or graduate level.
Table of Contents:
| Preface | ||
| Introduction | ||
| About the Author | ||
| Pt. I | Principles | 1 |
| Ch. 1 | Lending, Payments, and Trade in Risk | 3 |
| Ch. 2 | The Financial System and Its Technology | 20 |
| Ch. 3 | Efficiency, Stability, and Government Intervention | 43 |
| Ch. 4 | Interest Rates, Exchange Rates, and Security Prices | 66 |
| Pt. II | Intermediaries | 101 |
| Ch. 5 | Understanding Financial Intermediaries | 103 |
| Ch. 6 | What Is a Bank? | 128 |
| Ch. 7 | The Banking Industry | 169 |
| Ch. 8 | Payments and Foreign Exchange | 199 |
| Ch. 9 | Insurance | 228 |
| Ch. 10 | Pension Plans and Mutual Funds | 265 |
| Pt. III | Financial Markets | 305 |
| Ch. 11 | Understanding Financial Markets | 307 |
| Ch. 12 | The Market for Government Securities | 338 |
| Ch. 13 | The Mortgage Market | 369 |
| Ch. 14 | Debt Markers | 369 |
| Ch. 15 | The Equity Market | 432 |
| Ch. 16 | The Derivatives Market: Futures, Options, and Swaps | 463 |
| Ch. 17 | The Organization of Financial Markets | 505 |
| Pt. IV | Safety and Regulations | 549 |
| Ch. 18 | Managing Liquidity and Risk | 551 |
| Ch. 19 | Bank Safety and Regulation | 594 |
| Ch. 20 | Security Market Regulation and Stability | 637 |
| Name Index | 661 | |
| Subject Index | 663 |
Books about marketing: Death by Supermarket or History of Food
When Movements Matter: The Townsend Plan & the Rise of Social Security
Author: Edwin Amenta
When Movements Matter accounts for the origins of Social Security as we know it. The book tells the overlooked story of the Townsend Plan--a political organization that sought to alleviate poverty and end the Great Depression through a government-provided retirement stipend of $200 a month for every American over the age of sixty.
Both the Townsend Plan, which organized two million older Americans into Townsend clubs, and the wider pension movement failed to win the generous and universal senior citizens' pensions their advocates demanded. But the movement provided the political impetus behind old-age policy in its formative years and pushed America down the track of creating an old-age welfare state.
Drawing on a wealth of primary evidence, historical detail, and arresting images, Edwin Amenta traces the ups and downs of the Townsend Plan and its elderly leader Dr. Francis E. Townsend in the struggle to remake old age. In the process, Amenta advances a new theory of when social movements are influential.
The book challenges the conventional wisdom that U.S. old-age policy was a result mainly of the Depression or farsighted bureaucrats. It also debunks the current view that America immediately embraced Social Security when it was adopted in 1935. And it sheds new light on how social movements that fail to achieve their primary goals can still influence social policy and the way people relate to politics.
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