Readings in Money and Banking |
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Page 78
... bonds being valued at the lesser of par or market value in every case except New York from 1838 to 1840 ( Rolnick ... bonds , then the organizer can use the state bonds as security for notes . In ex- change for the deposited bonds . the ...
... bonds being valued at the lesser of par or market value in every case except New York from 1838 to 1840 ( Rolnick ... bonds , then the organizer can use the state bonds as security for notes . In ex- change for the deposited bonds . the ...
Page 127
... bonds tend to fluctuate more in price in response to interest rate changes than do short - term bonds . A bank that overloads its portfolio with long - term bonds risks selling them at a loss during periods of financial tightness . It ...
... bonds tend to fluctuate more in price in response to interest rate changes than do short - term bonds . A bank that overloads its portfolio with long - term bonds risks selling them at a loss during periods of financial tightness . It ...
Page 217
... bonds without also shifting away from goods and services in favor of money . That would mean a shift toward bonds in people's preferences as between bonds and money , which would tend to raise the money prices of outstanding bonds . Bond ...
... bonds without also shifting away from goods and services in favor of money . That would mean a shift toward bonds in people's preferences as between bonds and money , which would tend to raise the money prices of outstanding bonds . Bond ...
Contents
Why Bother? | 3 |
The Theory of Money | 12 |
The Evolution of | 23 |
Copyright | |
18 other sections not shown
Common terms and phrases
assets balance bank failures bank notes Bank of England bank's bankers banking crises banking panics banking system bonds borrow branch banking capital cash central bank changes charter circulation clearinghouse commercial banks commodity money costs countries crisis currency demand deposits deposit insurance depositors discount dollar economic economists effect excess demand exchange Federal Reserve Bank Federal Reserve System fractional-reserve banking free banking funds George Selgin gold standard growth rate History income increase inflation inside money institutions interest rates investment last resort lender of last liabilities loans losses ment Milton Friedman monetary authority monetary policy money supply national banks natural rate note issue noteholders operations payments percent period price level price of gold production profits purchasing power rate of interest real output real rate redeem regulation reserve requirements restrictions rise rule securities stability theory thrifts tion trade trend United value of money velocity wages wildcat banking York