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Monetary policy has changed. Has your textbook?
Monetary policy has changed. Has your textbook?
Balls Money, Banking, and Financial Markets closes the gap between economic theory and the day-to-day behavior of banks and financial markets. Working from a macro framework based on the Feds use of the interest rate as its major policy instrument, Ball presents the core concepts necessary to understand the problems affecting the stock market and the causes of recessions and banking crises. Underlying this framework are the intellectual foundations for the Feds inflation targeting using the dynamic consistency problem facing policymakers. Ball doesnt explain how the Fed and financial markets should work; he explains how they do work on a daily basis.
