Bankar og fjármálamarkađir



Háskóli Íslands -Hagfrćđideild - Vormisseri 2012

drög ađ leslista

Kennari: Ásgeir Jónsson  (ajonsson@hi.is)

 

Kennslubćkur námskeiđsins eru tvćr;  Modern Financial Macroeconomics eftir Todd A. Knoop (TK) og Why Iceland eftir Ásgeir Jónsson. (ÁJ)

Auk ţess eru teknir upp nokkrir kaflar úr bókunum The Economics of Banking eftir ţá Kent Matthews og John Thompson (M&T), Investment Banking: Institutions, Politics, and Law eftir Alan D. Morrison og William J. Wilhelm Jr. og Monetary Theory and Policy eftir Carl E. Walsh. Til frekari fróđleiks er nemendum bent á heildaryfirlit yfir greinar um bankamál samkvćmt X. Freixas

Ţrjú verkefni verđa lögđ fyrir á ţessari önn sem hvert gildir 10%. Ţetta eru hópverkefni en kjörstćrđ hvers vinnuhóps er ţrír nemar. Lokapróf gildir 70% af lokaeinkunn.

 

Verkefni 1 - skiladagur 31. janúar

Verkefni 2 - skiladagur 28. febrúar

Verkefni 3. Síđasti skiladagur á síđasta kennsludegi

 

Gömul próf

Vorpróf 2011
Vorpróf 2010
Vorpróf 2009
Vorpróf 2008
Vorpróf 2007

Vorpróf 2006

 

Hluti I. Bankastarfsemi

 

Vika 1. Um hvađ snýst bankastarfsemi?

Skyldulesefni:

Kaflar 1-2 í TK
Kaflli 2 í ÁJ

Glósur

Glósur - Um framţróun íslenska bankakerfisins

Glósur -  Um bankahruniđ 1930

Aukalesefni 

Ásgeir Jónsson Um framţróun íslenska bankakerfisins Jólablađ Vísbendingar, 2004

Jónas Haralz Hefđir og umbreyting – Landsbanki Íslands 1969–1988

 

 

Vikur 2-3. Viđskiptabankar og fjárfestingabankar

Skyldulesefni:

Kafli 3 í M&T

Kafli 3 í ÁJ

 

Katrina Lamb The Rise Of The Modern Investment Bank

Valentine V. Craig Merchant Banking: Past and Present FDIC Banking Review

An Institutional Theory of Investment Banking

 

Glósur

Glósur - Hvađ gera bankarnir?
Glósur - tegundir bankastarfsemi
Leyndardómar fjárfestingabankastarfsemi
Fall Lehmans og Broker-Dealer líkansins

 

Aukalesefni 

George J. Benston Universal Banking The Journal of Economic Perspectives > Vol. 8, No. 3 (Summer, 1994), pp. 121-143

Marc R. Saidenberg and Philip E. Strahan Are Banks Still Important for Financing Large Businesses? Current Issues in Economics and Finance. Federal Reserve Bank of New York,1999

Indie I-Banks: Dieing Dinosaurs or Burgeoning Behemoths? Credit Sights, 18 Sep 2008

Douglas W. Diamond Financial Intermediation as Delegated Monitoring: A Simple Example

Anil K. Kashyap; Raghuram Rajan; Jeremy C. Stein Banks as Liquidity Providers: An Explanation for the Coexistence of Lending and Deposit-Taking  The Journal of Finance > Vol. 57, No. 1 (Feb., 2002), pp. 33-73

 

Vikur 3-4: Rekstur  fjármálastofnana

Skyldulesefni

Kaflar 6 og  8 í M&T
Kafli 9 í M&T

Blađsíđur 49-56 í TK

 

Glósur

Glósur - fjármagnsskömmtun

Glósur - Skuldavafningar

Glósur - Skuldavafningar Kaupţings

Jón Gunnar - fyrirlestur

 

Aukalesefni 

Douglas W. Diamond; Philip H. Dybvig Banking Theory, Deposit Insurance, and Bank Regulation The Journal of Business, Vol. 59, No. 1. (Jan., 1986), pp. 55-68.

Doris Neuberger Industrial organization of banking: A review . International Journal of the Economics of Business. Abingdon: Feb 1998.Vol.5, Iss. 1; pg. 97, 22 pgs  

Douglas W. Diamond; Philip H. Dybvig Bank Runs, Deposit Insurance, and Liquidity  The Journal of Political Economy > Vol. 91, No. 3 (Jun., 1983), pp. 401-419

Harald Benink, Jón Daníelsson og Ásgeir Jónsson "On the Role of Regulatory Banking Capital" Financial Markets, Institutions & Instruments,  February 2008 - Vol. 17 Issue 1 Page 1-136

30 Group of Thirty Financial Reform A Framework for Financial Stability

Vika 5. Verđmat fjármálastofnana

 

Skyldulesefni

PABLO FERNÁNDEZ Company Valuation Methods: The Most Common Errors in Valuations  University of Navarra - IESE Business School  February 28, 2007

C H A P T E R 8 STOCK VALUATION AND INVESTMENT DECISIONS

Greiningardeild Landsbankans. Val á ávöxtunarkröfu viđ verđmat

Is That a $100 Bill Lying on the Ground? Two Views of Market Efficiency

 

Glósur

 

Glósur - Verđmat banka

 

Aukalesefni

Nordic Banks. J.P. Morgan. 12. ágúst 2011.

Nordic Banks. Citigroup. 1. júní 2011

Clifford Asness Bubble Logic Or, How to Learn to Stop Worrying and Love the Bull Partial Book Draft

Jeremy J. Siegel & Richard H. Thaler Anomalies: The Equity Premium Puzzle The Journal of Economic Perspectives, Vol. 11, No. 1. (Winter, 1997), pp. 191-200.

Almennt um verđmat

 




 

Hluti II.  Peningar og fjármálakerfi

 

Vika 6. Peningamagn, hagfrćđi og lánveitingar til ţrautavara

Skyldulesefni

Kaflar 3, 4 og 7 í TK

Kafli 4-5 í ÁJ

CURZIO GIANNINI Enemy of None but a Common Friend of All? An International Perspective on the Lender-of-Last-Resort Function IMF Working Paper No. 99/10 January 1999
(Athugiđ ađ ţađ nćgir ađ lesa 12 fyrstu síđurnar um domestic lender of last resort)

 

 

Glósur

Glósur - Hvađa máli skiptir M?

Glósur - Lánveitingar til ţrautarvara

Matt King  Understanding the CP Crunch Citigroup Fixed Income Quantitative Research 16 August 2007

 

Aukalesefni 

A Black Wednesday on Credit Markets; 'Heaven Help Us All' Wall Street Journal, SEPTEMBER 20, 2008

Allen, Mark, Rosenberg, Christoph B.,  Keller, Christian, Setser, Brad og Roubini, Nouriel. (2002) "A Balance Sheet Approach to Financial Crisis" IMF Working Paper No. 02/210 
(ATH.Nćgir ađ lesa fyrstu 20 síđurnar)

Frederic S. Mishkin  Ţýđing fjármálastöđugleika fyrir efnahagslífiđ

 

 

 

 

Vika 7: Miđlunarferli, vaxtaróf og fjármálaleg hröđun

Skyldulesefni
 

Kaflar 5, 6 og 8 í KT

William Poole Understanding the Term Structure of Interest Rates, Federal Reserve Bank of St. Louis, júní 2005

 

Glósur

Glósur -vaxtaróf og raunvaxtastig

 Glósur- miđlunarferliđ

Aukalesefni

Frederic S. Mishkin. "The Transmission Mechanism and the Role of Asset Prices in Monetary Policy," in Aspects of the Transmission Mechanism of Monetary Policy, Focus on Austria 3-4/2001. (Osterreichische Nationalbank: Vienna 2001): 58-71. (view PDF)

 Ţórarinn G. Pétursson. Miđlunarferli peningastefnunnar.  Peningamál Seđlabanka Íslands. Nóvember 2001
h
ttp://www.sedlabanki.is/uploads/files/pm014_7.pdf

Marvin Gooodfriend Using the Term Structure of Interest Rates for Monetary Policy  Richmond Federal Reserve Bank Economic Quarterly

Christopher Bliss. The real rate of interest: A theoretical analysis. Oxford review of Economic Policy, summer 1999.

Mervyn King, No money, no inflation—the role of money in the economy The Bank of England Quarterly Bulletin, summer 2002

Ásgeir Jónsson  Bankar, peningar og verđbólga sérrit KB banka (2004)

 

Vika 8: Fjármálakrísur og alţjóđafjármál

Skyldulesefni
 

Kaflar 9 og 10 í KT

Paul van den Noord Economics (2004) " Euro: the experience to date" Opinber fyrirlestur viđ Háskóla Íslands september 2004 fyrir hönd The economics department OECD.

 

Glósur

Glósur - Basel II og lítil opin hagkerfi

Um gengisspár međ óvörđu vaxtajafnvćgi

 

Aukalesefni

Kaminsky, G. L og Reinhart, C. M. (1999) " The Twin Crisis: the Causes of Banking and Balance-of-Payments Problems"  American Economic Review Vol. 89 473-500.

Jón Daníelsson og Ásgeir Jónsson  Gengisvarnir á eiginfé banka og fjármálalegur stöđugleiki Fjármálatíđindi 53. árgangur fyrra hefti 2006, bls. 22-33

Lucio Sarno; Mark P. Taylor "Official Intervention in the Foreign Exchange Market: Is It Effective and, If so, How Does It Work?" Journal of Economic Literature, Vol. 39, No. 3. (Sep., 2001), pp. 839-868.

Jon Danielsson og Hyun Song Shin (2002) Endogenous Risk 

 

 

 

 

 

Hluti III.  Seđlabankar og peningamálastefna

Vikur 9-12: Markmiđ og akkeri peningamálastefnunar

 

Skyldulesefni

Arfleifđ Ólafslaga

Kaflar úr bók Carl E. Walsh "Monetary Theory and Policy)

Kafli 8 - discretionary policy and inflationary bias

Kafli 9 - Monetary Policy operating procedures

Inflation targeting: What have we learned?

Samningur ríkisstjórnar og Seđlabanka um verđbólgumarkmiđ frá 2001.

 

 

Glósur

Glósur - Verđbólgubjögun

Glósur - verkfćri og markmiđ Seđlabanka

Glósur - Vaxtareglur

Glósur - Verđbólgumarkmiđ

 

Aukalesefni

Kafli 10 - Interest rate rules

Lars E.O. Svensson. Inflation Targeting. Handbook of Monetary Economics. 2010

Verđbólgumarkmiđ og fastgengi

Jón Steinsson. Er verđlagsmarkmiđ skynsamlegra en verđbólgumarkmiđ? Fjármálatíđindi, 48. árgangur seinna hefti 2001, bls. 69-77

Frederic S. Mishkin, "Inflation Targeting," in Howard Vane and Brian Snowdon,
Encyclopedia of Macroeconomics (Edward Elgar: Cheltenham U.K., 2002): 361-65.
(view PDF)

Governor Frederic S. Mishkin  Monetary Policy Flexibility, Risk Management, and Financial Disruptions Speech at the Federal Reserve Bank of New York, New York January 11, 2008

R.W. Hafer and David C. Wheelock The Rise and Fall of a Policy Rule: Monetarism at the St. Louis Fed, 1968-1986

Michael Woodford "Inflation Targeting and Optimal Monetary Policy," October 2003. [Presented at the Annual Policy Conference, Federal Reserve Bank of St. Louis, Oct. 16-17, 2003.] Ţađ nćgir ađ lesa fyrst 15 síđurnar

Michael Woodford og Lars E.O. Svensson "Implementing Optimal Policy through Inflation-Forecast Targeting," with , November 1999, revised April 2003. [To appear in: B.S. Bernanke and M. Woodford, eds., Inflation Targeting, University of Chicago Press.]

William Poole "Monetary Policy Rules"  The Federal Reserve Bank of St. Louis Review 1999