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Money, finance, and the real economy : what went wrong? /

The functions of the financial system of a developed economy are often badly understood. This can largely be attributed to free-market ideology, which has spread the belief that leaving finance to its own devices would provide the best possible mechanism for allocating savings. The latest financial...

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Bibliographic Details
Main Authors: Brender, Anton (Author), Pisani, Florence (Author), Gagna, Emile (Author)
Other Authors: Wells, Francis (Translator)
Format: Book
Language:English
Published: Brussels : Centre for European Policy Studies (CEPS), [2015]
Subjects:
Monetary policy.
Fiscal policy.
Economic policy.
Banks and banking, Central.
Finance, Public.
Table of Contents:
  • Foreword
  • Introduction
  • 1. The monetary constraint
  • 1.1. The mechanics of the monetary constraint
  • 1.2. A relaxation of the monetary constraint
  • 1.3. From one rule to another
  • 2. Monetary impulses and the response of the economy
  • 2.1. The transmission of movements in policy rates
  • 2.2. The incidence of interest rates on corporate spending
  • 2.3. The incidence of interest rates on household spending
  • 3. Information and the supply of lending
  • 3.1. The inter-temporal dimension of macroeconomic regulation
  • 3.2. The information tools of the savings-collectors
  • 3.3. The role of the bond market
  • 3.4. The analysis of debtors' solvency
  • 4. Finance and the circulation of risks
  • 4.1. The role of the 'traditional' markets
  • 4.2. The role of securitisation
  • 4.3. A new form of financial intermediation
  • 5. The monetary constraint, financial globalisation and world growth
  • 5.1. Monetary policies and financial globalisation
  • 5.2. Potentially exploitable saving reserves
  • 5.3. Constructing new financing channels
  • Conclusion
  • References.