New Lombard Street

Regular price €51.99
Regular price €52.99 Sale Sale price €51.99
A01=Perry Mehrling
Age Group_Uncategorized
Age Group_Uncategorized
Aggregate demand
Arbitrage
Asset
Author_Perry Mehrling
automatic-update
Availability
Balance sheet
Bank
Bank of England
Basis risk
Ben Bernanke
Book entry
Calculation
Capital asset
Capital asset pricing model
Capital Base
Capital Buffer
Capital market
Capitalism
Cash
Category1=Non-Fiction
Category=KCZ
Category=KFFK
Central bank
COP=United States
Counterparty
Credit (finance)
Credit derivative
Credit enhancement
Credit Insurance
De facto
Debt
Delivery_Delivery within 10-20 working days
Deposit account
Discounts and allowances
Economic policy
eq_business-finance-law
eq_isMigrated=2
eq_non-fiction
Eurodollar
Fannie Mae
Federal funds
Federal funds rate
Federal Reserve Bank of New York
Finance
Financial asset
Financial innovation
First Book
Forward exchange rate
Forward rate
Full employment
Funding
Funding liquidity
General equilibrium theory
Government bond
Guarantee
Haircut (finance)
Ideal World
Inflation targeting
Institutional memory
Insurance
Interest
Interest rate
Investment
Issuer
James Tobin
John Maynard Keynes
Joseph Schumpeter
Knut Wicksell
Language_English
Libor
Line of credit
Market development
Market liquidity
Market price
Milton Friedman
Monetarism
Monetary policy
Money market
Money supply
Net worth
PA=Available
Price_€20 to €50
PS=Active
softlaunch

Product details

  • ISBN 9780691143989
  • Weight: 340g
  • Dimensions: 140 x 216mm
  • Publication Date: 28 Nov 2010
  • Publisher: Princeton University Press
  • Publication City/Country: US
  • Product Form: Hardback
  • Language: English
Delivery/Collection within 10-20 working days

Our Delivery Time Frames Explained
2-4 Working Days: Available in-stock

10-20 Working Days
: On Backorder

Will Deliver When Available
: On Pre-Order or Reprinting

We ship your order once all items have arrived at our warehouse and are processed. Need those 2-4 day shipping items sooner? Just place a separate order for them!

Walter Bagehot's Lombard Street, published in 1873 in the wake of a devastating London bank collapse, explained in clear and straightforward terms why central banks must serve as the lender of last resort to ensure liquidity in a faltering credit system. Bagehot's book set down the principles that helped define the role of modern central banks, particularly in times of crisis--but the recent global financial meltdown has posed unforeseen challenges. The New Lombard Street lays out the innovative principles needed to address the instability of today's markets and to rebuild our financial system. Revealing how we arrived at the current crisis, Perry Mehrling traces the evolution of ideas and institutions in the American banking system since the establishment of the Federal Reserve in 1913. He explains how the Fed took classic central banking wisdom from Britain and Europe and adapted it to America's unique and considerably more volatile financial conditions. Mehrling demonstrates how the Fed increasingly found itself serving as the dealer of last resort to ensure the liquidity of securities markets--most dramatically amid the recent financial crisis. Now, as fallout from the crisis forces the Fed to adapt in unprecedented ways, new principles are needed to guide it. In The New Lombard Street, Mehrling persuasively argues for a return to the classic central bankers' "money view," which looks to the money market to assess risk and restore faith in our financial system.
Perry Mehrling is professor of economics at Barnard College, Columbia University. He is the author of "Fischer Black and the Revolutionary Idea of Finance" and "The Money Interest and the Public Interest: American Monetary Thought, 1920-1970".