Bankar og peningar


 

Háskóli Íslands -Hagfrćđideild - Haustmisseri 2012

drög ađ leslista

Kennarar: Ásgeir Jónsson  (ajonsson@hi.is)

Davíđ Stefánsson (david.stefansson@arionbanki.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., Monetary Theory and Policy eftir Carl E. Walsh og Nauđsyn eđa val? Verđtrygging, vextir, verđbólga eftir ţá Ásgeir Jónsson, Sigurđ Jóhannesson og Valdimar Ármann.

 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 settur 12. október.

Verkefni 2 - skiladagur 9. nóvember

Verkefni 3 - skiladagur 30. nóvember

 

Gömul próf

Lokapróf 2004
Lokapróf 2005
Lokapróf 2006
Lokapróf 2007
Lokapróf 2008
Lokapróf 2009
Lokapróf 2010
Lokapróf 2011

 

Hluti I. Bankastarfsemi

 

Vika 1-2. Um hvađ snýst bankastarfsemi?

Skyldulesefni:

Kaflar 1-2 í TK
Kaflli 2 í ÁJ
Kafli 3 í M&T

Glósur

Glósur - Um framţróun íslenska bankakerfisins
Glósur - Hvađ gera bankarnir?

 

Aukalesefni 

Ásgeir Jónsson Um framţróun íslenska bankakerfisins Jólablađ Vísbendingar, 2004

Jónas Haralz Hefđir og umbreyting – Landsbanki Íslands 1969–1988

 

 

Vika 3. Viđskiptabankar og fjárfestingabankar

 

Skyldulesefni:

 Kafli 3 í ÁJ

Katrina Lamb The Rise Of The Modern Investment Bank

An Institutional Theory of Investment Banking

 

Glósur
Glósur - tegundir bankastarfsemi
Leyndardómar fjárfestingabankastarfsemi
Fall Lehmans og Broker-Dealer líkansins

 

Aukalesefni 

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

 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 4-5: Rekstur  fjármálastofnana

Skyldulesefni

Kaflar 6 og  8 í M&T
Kafli 9 í M&T

Blađsíđur 49-56 í TK

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

Davíđ Stefánsson. Ađskilnađur viđskipta- og fjárfestingabankastarfsemi - breyting til batnađar? Greiningardeild Arion banka, apríl 2012.

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 - fjármagnsskömmtun

Glósur - Skuldavafningar

Glósur - Skuldavafningar Kaupţings

Glósur - Lánveitingar til ţrautarvara

 

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


 

Hluti II.  Peningar og fjármálakerfi

 

Vikur 6-7. Peningamagn og vaxtamyndun

Skyldulesefni

Kaflar 3, 4 og 7 í TK

Kafli 4-5 í ÁJ

Kafli 2 í Nauđsyn eđa val? Verđtrygging, vextir, verđbólga

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 - Hvađa máli skiptir M?

Glósur -vaxtaróf og raunvaxtastig

 

 

Aukalesefni 

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

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

 

 

 

Vikaur 8-9: Miđlunarferliđ og alţjóđafjármál

Skyldulesefni
 

Kaflar 5 og 6 í KT

Kafli 1 og 4 í Nauđsyn eđa val? Verđtrygging, vextir, verđbólga

 

Kaflar 9 og 10 í KT

 

Glósur

 Glósur- miđlunarferliđ

Glósur - Basel II og lítil opin hagkerfi

Glósur - verđtrygging, nauđsyn eđa val

Glósur - Íslandslánin og verđbólguhringrás Íslands

Glósur - gjaldeyrisinngrip

Um gengisspár međ óvörđu vaxtajafnvćgi

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)

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 10-13: Markmiđ og akkeri peningamálastefnunar

Skyldulesefni

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

Kafli 8 - discretionary policy and inflationary bias

Kafli 9 - Monetary Policy operating procedures

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

 

 

Glósur

Glósur - hagstjórnarađgerđir og hagstjórnarreglur.

Glósur - verkfćri og markmiđ Seđlabanka

Glósur - Verđbólgumarkmiđ

Glósur - Vaxtareglur

 

Aukalesefni

Verđbólgumarkmiđ og fastgengi

Kafli 10 - Interest rate rules

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

Frederic S. Mishkin, "What Should Central Banks Do?" Federal Reserve Bank of St. Louis Review, vol. 82, #6 (November/December 2000): 1-13. (view PDF)

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

Ţórarinn G. Pétursson Nýjar áherslur í starfsemi seđlabanka: aukiđ sjálfstćđi, gagnsći og reikningsskil gerđa Peningamál, nóvember 2000