Money, Banking and Financial Markets.

Summary A must-read bestseller, Frederic Mishkin's book presents an economic analysis of the financial systems within which central banks conduct monetary policy in their countries. It also outlines the economic functions of commercial banks and other financial intermediaries, both from a national and international perspective. The book owes its success to two essential qualities: a unified analytical framework based on a small number of fundamental economic principles, set out in simple terms; and a remarkable pedagogy based on simplified formalization, with explanatory tables and diagrams. Faithful to the approach of the original book, the French edition has been the subject of an impressive adaptation work. This 10th edition is an opportunity to develop a comparative analysis of the United States and the European Union: the euro-dollar exchange rate, the liquidity crisis, the French banking system, conflicts between EU and national authorities, the evolution of regulation and supervision. simplify the presentation of monetary policy strategies and regimes: domestic aspects are studied in part IV and international aspects in part V . deepen the study of financial crises and introduce the shadow banking system: the role of securitization in the collapse of financial asset prices, bank rescues, the deflation of financial leverage and the credit crunch . to explain the action of central banks in the face of the economic crisis: their share of responsibility, the measures adopted and the challenges they face (in particular the monetary authorities of the Eurozone in response to the banking and debt crisis) . to present a framework of analysis renewed by the recent work of the New Keynesian Economics: the impact of monetary policy decisions on macroeconomic equilibrium In addition, all the figures have been updated to provide the reader with the most recent information possible. Finally, thanks to some 400 questions and problems, the reader can test his or her knowledge and put it into practice [Source: 4th cover].