The monetary system : analysis and new approaches to regulation / Jean-François Serval and Jean-Pascal Tranié.

Format:

Book

Author/Creator:

Serval, Jean-François, author.

Tranié, Jean-Pascal, author.

Series:

Wiley finance series.

Wiley finance series

Language:

English

Subjects (All):

Money.

Finance.

Financial institutions.

Monetary policy.

Physical Description:

1 online resource (314 p.)

Edition:

1st edition

Place of Publication:

Chichester, West Sussex, United Kingdom : Wiley, 2015.

Language Note:

English

System Details:

text file

Summary:

"The authors offer an analytic approach distinguishing those financial instruments that are freely transferable and those that can be classified as securitization and CDS as a result of their underlying legal structure from other financial instruments that can often be converted from one category to another. Their new aggregates M5 category encompass all instruments including cash from the Central Bank, in essence all receivables that in counterparty relationships are recorded as debts in some balance sheets, the M6 entry being the total of balance sheets from where the data has to be collected to compare them with revenues. By employing derivatives of M5 and M6 they cover all underlying collateral classes thus allowing a type of comprehensive economic modeling that no other authors have been able to propose. This text offers insights into the present situation of slow growth, rising debts and long term low inflation and puts forward some possible outcomes for the global economy. The authors point out the social role of monetary contracts not only because they are grounding exchanges as it has always been the since ever in the past but also because it's sampling is the tool for redistribution between actors including "sectors" through taxation and inflation and deflation and finally between generations"-- Provided by publisher.

Contents:

The Monetary System; Table of Contents; List of Figures; List of Tables; Acknowledgements; Foreword And Introduction; Chapter 1 From Antiquity to Modern Times; Monetary Development Over 5000 Years. What History Explains and Comparison within New Contexts; The Origin of Money; From Antiquity to Modern Times; A Metallic System Allowing Intrinsic Measurement Stamping: Ingots to Coinage; Grounding the Guarantees of Stamping: From an All-Metallic System to Paper Bills; The Rise and Fall of Civilizations; What Can We Learn from Ancient and More Modern History?; Questions and Answers

Chapter 2 Modern Times - Liberation and Growth of the Money Supply. The Facts Presented in Monetary Units and Resulting Regulatory Needs Monetary Evolution Backed by Economic Growth; Development of a Global Financial Market Economy; Citizens Emerging in the Process of Financialization; The Realities; Causes Underlying Emerging Macroeconomic Realities; Resulting Needs for Standardization, Regulation and Supervision; Questions and Answers; Chapter 3 Past and 21st-Century Money Analysis; Defining "Today's Money"; Money Defined by its Functionality

The First Function: Price Setting - Money as a Measurement Standard-Based Source of Information The Second Function: A Payment and Trading Instrument; The Third Function: A Reserve; Links between Monetary Functions; The Intrinsic Definition of Money; A Trifunctional Monetary Support System; How To Ground Trust In Money: Audited Financial Statements For Government and Central Banks; Seignorage and the Privilege of Issuing and Stamping Money; Traditional Seignorage in General; The Modern Seignorage Privilege; Legal Tender and Seignorage

Evolution of Money into a Segregated Intermediation Tool with Imprecise FrontiersLinguistic Definition of the Word "Money"; Money Today; The Demise of Traditional Conceptual Approaches; The Operational Scope of Money and its Use; The Extension of Money with Disintermediation; Direct Financing and Hedging of Risk; Replacement of Bank Loan Financing by Securitization and the Impact of Pro-cyclical Effects; The Origin of Securitization; The Securitization Concept and Its Implementation

Securitization Financing via Trust-Derived "Shadow Capital" Originating from Retirement Accounts, Direct Savings and Trade DeficitsGuarantees on Receivables: A Securitization Multiplier; Extending the Field of Debts and Guarantees; Deviations from Effective Risk Control: The CDS Case; Towards the Full Liberation of Money from Any Referential; Guarantees and the Extension of Monetary Instruments Liberated from Unified Backing and Issuance Constraints; Monetary Effects of Guarantees; Shadow or Parallel Banking Systems

Before Accounting for Any Transaction - The Sampling Topic. The Mix Up between Numbers and Formulae

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on print version record.

ISBN:

9781118867914

1118867912

9781118867853

1118867858

9781118867808

1118867807

OCLC:

897070193