Skip to main content

Financial Market Integration and Monetary Policy

  • Chapter
50 Years of EU Economic Dynamics
  • 759 Accesses

Abstract

“The more nearly perfect a market is, the stronger is the tendency for the same price to be paid for the same thing at the same time in all parts of the market…” Marshall, Principles, 1920

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 129.00
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 169.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Bernanke, B., Gertler, M. (1995), Inside the Black Box: The Credit Channel of Monetary Policy Transmission, in: Journal of Economic Perspectives, vol. 9, no. 4, pp 27–48.

    Google Scholar 

  • Brender, A., Pisani, F. (2004), La nouvelle économie américaine, Paris: Economica.

    Google Scholar 

  • Frank, R. (1994), Microeconomics and Behavior, McGraw-Hill, New York.

    Google Scholar 

  • Frankel, J. (2000), Globalization of the Economy, NBER Working Paper 7858.

    Google Scholar 

  • Hull, J. (2000), Options, Futures and Other Derivatives, Prentice-Hall: Upper Saddle River.

    Google Scholar 

  • Kotz, H.-H. (1998), Binnenmarkt und Währungsunion: Verknüpfungslogik, Mikro- und Makrofolgen, in: Paul J.J. Welfens et al. (eds.): Euro – Neues Geld für Europa, Campus: Frankfurt, S. 117–128.

    Google Scholar 

  • Krahnen, J. (2005), Der Handel von Kreditrisiken: Eine neue Dimension des Kapitalmarktes, in: Perspektiven der Wirtschaftspolitik, vol. 6, no. 4, pp. 499–519

    Article  Google Scholar 

  • Merton, R., Bodie, Z. (1995), A Conceptual Framework for Analyzing the Financial Environment, in: David Crane et al. (eds.): The Global Financial System. A Functional Perspective, Boston, HBS,

    Google Scholar 

  • Merton, R., Bodie, Z. (2004), The Design of Financial Systems: Towards a Synthesis of Function and Structure, NBER Working Paper 10620.

    Google Scholar 

  • Mishkin, F. (1995), Symposion on the Monetary Transmission Mechanism, in: Journal of Economic Perspectives, vol. 9, no. 4, pp 3–10.

    Google Scholar 

  • Moore, R. (1998), Concentration, Technology, and Market Power in Banking: Is Distance Dead? , in: Federal Reserve Bank of Dallas, Financial Industry Studies, December, pp. 1–10.

    Google Scholar 

  • Petersen, M., Rajan, R. (1995), The Effect of Credit Market Competition on Lending Relationships, in: Quarterly Journal of Economics, vol. 110 (May), pp. 407–44.

    Google Scholar 

  • Rajan, R. (2005), Has Financial Development Made the World Riskier? , NBER Working Paper 11728.

    Google Scholar 

  • Stiglitz, J., Greenwald, B. (2003), Towards a New Paradigm in Monetary Economics, Cambridge UP: Cambridge

    Google Scholar 

  • Tobin, J., Golub, S. (1998), Money, Credit and Capital, McGraw-Hill: Boston.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2007 Springer-Verlag Berlin Heidelberg

About this chapter

Cite this chapter

Kotz, HH. (2007). Financial Market Integration and Monetary Policy. In: Tilly, R., Welfens, P., Heise, M. (eds) 50 Years of EU Economic Dynamics. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-74055-1_5

Download citation

Publish with us

Policies and ethics