Money & Markets. The history of money is Inflation

2021 ◽  
Vol 16 (8) ◽  
pp. 21-24
Author(s):  
C. Chambers
Keyword(s):  
Money Markets ◽  
History Of

Money Markets in East Africa

1966 ◽  
Vol 4 (4) ◽  
pp. 471-478
Author(s):  
W. T. Newlyn
Keyword(s):  
Central Bank ◽  
East Africa ◽  
Securities Market ◽  
Open Market ◽  
Text Book ◽  
Money Markets ◽  
Monetary System ◽  
History Of

THERE was a time when it was thought, in the best places, that in order to justify the establishment of a central bank it was absolutely necessary to have a securities market and a bill market in which the central bank could perform the traditional text-book open-market operations which are so central to the history of the Bank of England's control of the British monetary system.

The Baring Crisis and the Brazilian Encilhamento, 1889–1891: An Early Example of Contagion Among Emerging Capital Markets

2005 ◽  
Vol 12 (2) ◽  
pp. 199-225 ◽  
Author(s):  
GAIL D. TRINER ◽  
KIRSTEN WANDSCHNEIDER
Keyword(s):  
Financial Crisis ◽  
Capital Markets ◽  
Capital Flows ◽  
International Markets ◽  
Money Markets ◽  
Bond Yield ◽  
History Of ◽  
Emerging Capital Markets ◽  
The Impact

This article assesses the role of international markets in the brazilian financial crisis of 1890/91 (the crash of the encilhamento). It looks for the impact of the argentine financial crisis in 1890 (the baring crisis) on brazilian access to capital markets. The history of bond yield fluctuations in london for brazilian and argentine debt, exchange rates, data on investment flows and archival and journalistic accounts reveal a close congruence between the argentine and brazilian crises. The effects of the argentine experience carried over to brazil because the open capital and money markets of the period easily transmitted crisis from one economy to another and because fundamental conditions in both economies rendered them similarly vulnerable to fluctuations in capital flows. The article raises this case as a precedent for the contagious financial crises that emerging markets faced at the end of the twentieth century.

Short-Term Funding Stresses and Asset Prices: Lessons from U.S. History

FEDS Notes ◽  
2020 ◽  
Vol 2020 (2790) ◽  
Author(s):  
Colin Weiss ◽  
Keyword(s):  
Capital Markets ◽  
Federal Reserve ◽  
Asset Prices ◽  
Asset Price ◽  
Bond Markets ◽  
Short Term ◽  
Money Markets ◽  
Price Fluctuations ◽  
History Of

Recent stress episodes in U.S. short-term dollar funding markets have brought renewed attention to the functioning of these markets and how they interact with capital markets more generally. The history of U.S. money markets and stock and bond markets before the founding of the Federal Reserve offer a unique perspective on how the structure of money markets can contribute to broader asset price fluctuations.

scholarly journals MONEY, MARKETS, AND DYNAMIC CREDIT

2010 ◽  
Vol 15 (S1) ◽  
pp. 42-61 ◽  
Author(s):  
Hongfei Sun
Keyword(s):  
Private Information ◽  
Financial Intermediation ◽  
Money Markets ◽  
Settlement Period ◽  
Integrated Theory ◽  
History Of ◽  
Incentive Problems ◽  
Efficient Allocations

This paper presents an integrated theory of money and dynamic credit. I study financial intermediation when both the intermediary and individuals have private information. I show that money is essential to solving two-sided incentive problems under the dynamic credit arrangement. First, requiring settlement with money can induce market trades that generate information-revealing prices to discipline the intermediary. Second, it is optimal for the intermediary to issue money that can record its own history of being used in settlements, and to require that settlements be made with only money that has been returned to the intermediary every settlement period. This arrangement effectively reduces individuals' incentives to deviate and allows intermediation to achieve efficient allocations.

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