National monetary and financial analysis /

Includes bibliographical references and indexes.

This book represents yet another attempt to analyse the financial sector of market economies and to show how it interacts with the real sector. It does so by examining the nature of payments and institutions, emphasizing the diversity of economic decision making units and stressing the concept of portfolio balance (Part I). In Part II, the author considers in some detail the asset holding motives and preferences for liabilities composition of households, non-financial institutions, financial intermediaries, government agencies, the central government and central banks. The relationship with the rest of the world impinging on the domestic financial sector is treated as a "residual", though the existence of autonomous influences from abroad is acknowledged. In the framework of balance-sheet preferences, the author analyses the adjustment process following changes in interest rates, the general price level, price of assets and liabilities and in quantities demanded and supplied, whether initiated by endogenous developments or action by the government. Part III of the book consists of a chapter which sets out criteria for financial accounting, discussing principles of classification of assets and liabilities and of valuation.

rpm 26/04/2018
hza 07/02/2019

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