Author Description

A hallmark of thefirst two editions ofMoney, theFinancial System, and the Economy was the focus on economic principles to illustrate the evolution of financial markets and institutions and the role they play in the macroeconomy. In addition, the text has striven to emphasize international developments in financial markets and institutions and their links to economic performance. The Third Edition builds on these foundations and uses economic analysis to illustrate important recent developments in, for example, Japanese financial markets and institutions, the Asian financial crisis, and the emergence of the European Monetary Union and the European Central Bank. All of the text's Moving from Theory to Practice' features - in which each chapter's economic analysis is used to interpret a news article from the financial press - have been updated. The Third Edition also features updated presentations of data and selected new exhibits and case studies.*NEW! The Third Edition has been comprehensively updated to reflect recent events and times*Featured are developments in Japan's financial markets and institutions, the Asian financial crisis, the role of hedge funds' in financial markets,