Money and Banking

  1. International Finance and Exchange Rates
    1. Foreign Exchange Markets
      1. Market Structure
        1. Participants
          1. Commercial Banks
            1. Central Banks
              1. Corporations
                1. Institutional Investors
                  1. Retail Investors
                  2. Trading Mechanisms
                    1. Spot Markets
                      1. Forward Markets
                        1. Futures Markets
                          1. Options Markets
                          2. Geographic Distribution
                            1. Electronic Trading Systems
                            2. Exchange Rate Concepts
                              1. Nominal Exchange Rates
                                1. Bilateral Rates
                                  1. Effective Exchange Rates
                                    1. Real Exchange Rates
                                    2. Exchange Rate Quotations
                                      1. Direct vs. Indirect Quotes
                                        1. Bid-Ask Spreads
                                          1. Cross Rates
                                        2. Exchange Rate Determination
                                          1. Purchasing Power Parity
                                            1. Absolute PPP
                                              1. Relative PPP
                                                1. Deviations from PPP
                                                2. Interest Rate Parity
                                                  1. Covered Interest Parity
                                                    1. Uncovered Interest Parity
                                                      1. Risk Premiums
                                                      2. Monetary Approach
                                                        1. Money Supply Effects
                                                          1. Inflation Differentials
                                                          2. Portfolio Balance Approach
                                                            1. Asset Substitutability
                                                              1. Risk Considerations
                                                            2. Exchange Rate Volatility
                                                              1. Sources of Volatility
                                                                1. Economic Fundamentals
                                                                  1. Speculation and Bubbles
                                                                    1. Central Bank Intervention
                                                                  2. International Monetary Systems
                                                                    1. Gold Standard
                                                                      1. Classical Gold Standard
                                                                        1. Gold Exchange Standard
                                                                          1. Adjustment Mechanisms
                                                                            1. Advantages and Disadvantages
                                                                            2. Bretton Woods System
                                                                              1. Fixed Exchange Rates
                                                                                1. Dollar-Gold Convertibility
                                                                                  1. International Monetary Fund
                                                                                    1. World Bank
                                                                                      1. Collapse of Bretton Woods
                                                                                      2. Post-Bretton Woods Era
                                                                                        1. Flexible Exchange Rates
                                                                                          1. Managed Float
                                                                                            1. Currency Crises
                                                                                              1. Regional Monetary Arrangements
                                                                                              2. European Monetary System
                                                                                                1. Exchange Rate Mechanism
                                                                                                  1. European Currency Unit
                                                                                                    1. Transition to Euro
                                                                                                    2. Currency Unions
                                                                                                      1. Optimal Currency Area Theory
                                                                                                        1. European Monetary Union
                                                                                                          1. Other Currency Unions
                                                                                                        2. Balance of Payments
                                                                                                          1. Accounting Framework
                                                                                                            1. Double-Entry Bookkeeping
                                                                                                              1. Debits and Credits
                                                                                                                1. Statistical Discrepancy
                                                                                                                2. Current Account
                                                                                                                  1. Trade Balance
                                                                                                                    1. Merchandise Trade
                                                                                                                      1. Services Trade
                                                                                                                      2. Primary Income
                                                                                                                        1. Investment Income
                                                                                                                          1. Compensation of Employees
                                                                                                                          2. Secondary Income
                                                                                                                            1. Current Transfers
                                                                                                                              1. Remittances
                                                                                                                            2. Capital Account
                                                                                                                              1. Capital Transfers
                                                                                                                                1. Acquisition of Non-Produced Assets
                                                                                                                                2. Financial Account
                                                                                                                                  1. Direct Investment
                                                                                                                                    1. Foreign Direct Investment
                                                                                                                                      1. Multinational Corporations
                                                                                                                                      2. Portfolio Investment
                                                                                                                                        1. Equity Securities
                                                                                                                                          1. Debt Securities
                                                                                                                                          2. Other Investment
                                                                                                                                            1. Loans
                                                                                                                                              1. Currency and Deposits
                                                                                                                                              2. Reserve Assets
                                                                                                                                                1. Official Reserves
                                                                                                                                                  1. Special Drawing Rights
                                                                                                                                                2. Balance of Payments Adjustment
                                                                                                                                                  1. Automatic Adjustment Mechanisms
                                                                                                                                                    1. Policy Adjustments
                                                                                                                                                      1. External Financing
                                                                                                                                                    2. International Capital Flows
                                                                                                                                                      1. Types of Capital Flows
                                                                                                                                                        1. Foreign Direct Investment
                                                                                                                                                          1. Portfolio Investment
                                                                                                                                                            1. Bank Lending
                                                                                                                                                              1. Official Flows
                                                                                                                                                              2. Determinants of Capital Flows
                                                                                                                                                                1. Interest Rate Differentials
                                                                                                                                                                  1. Economic Growth Prospects
                                                                                                                                                                    1. Political Stability
                                                                                                                                                                      1. Exchange Rate Expectations
                                                                                                                                                                      2. Capital Flow Volatility
                                                                                                                                                                        1. Sudden Stops
                                                                                                                                                                          1. Capital Flight
                                                                                                                                                                            1. Contagion Effects
                                                                                                                                                                            2. Capital Controls
                                                                                                                                                                              1. Types of Controls
                                                                                                                                                                                1. Effectiveness
                                                                                                                                                                                  1. Costs and Benefits

                                                                                                                                                                              Previous

                                                                                                                                                                              5. Central Banking and Monetary Policy

                                                                                                                                                                              Go to top

                                                                                                                                                                              Next

                                                                                                                                                                              7. Financial Regulation and Stability