Picture 1 of 1
The New Lombard Street: How the Fed Became the Dealer of Last Resort by Perry Me
Condition:
2 available
Postage:
Located in: Calgary, Alberta, Canada
Delivery:
Estimated between Sat, 8 Jun and Mon, 17 Jun to 43230
Returns:
Coverage:
Read item description or contact seller for details. See all detailsSee all details on coverage
(Not eligible for eBay purchase protection programmes)
Shop with confidence
Seller information
- 98.3% positive feedback
Registered as a Business Seller
Seller assumes all responsibility for this listing.
eBay item number:395388846009
Item specifics
- Condition
- Brand New: A new, unread, unused book in perfect condition with no missing or damaged pages. See all condition definitionsopens in a new window or tab
- ISBN-13
- 9780691143989
- Book Title
- The New Lombard Street
- ISBN
- 9780691143989
- Publication Year
- 2010
- Type
- Textbook
- Format
- Hardcover
- Language
- English
- Publication Name
- New Lombard Street : How the Fed Became the Dealer of Last Resort
- Item Height
- 0.9in
- Item Length
- 8.8in
- Publisher
- Princeton University Press
- Item Width
- 5.8in
- Item Weight
- 12 Oz
- Number of Pages
- 192 Pages
About this product
Product Information
Walter Bagehot's Lombard Street, published in 1873 in the wake of a devastating London bank collapse, explained in clear and straightforward terms why central banks must serve as the lender of last resort to ensure liquidity in a faltering credit system. Bagehot's book set down the principles that helped define the role of modern central banks, particularly in times of crisis--but the recent global financial meltdown has posed unforeseen challenges. The New Lombard Street lays out the innovative principles needed to address the instability of today's markets and to rebuild our financial system. Revealing how we arrived at the current crisis, Perry Mehrling traces the evolution of ideas and institutions in the American banking system since the establishment of the Federal Reserve in 1913. He explains how the Fed took classic central banking wisdom from Britain and Europe and adapted it to America's unique and considerably more volatile financial conditions. Mehrling demonstrates how the Fed increasingly found itself serving as the dealer of last resort to ensure the liquidity of securities markets--most dramatically amid the recent financial crisis.Now, as fallout from the crisis forces the Fed to adapt in unprecedented ways, new principles are needed to guide it. In The New Lombard Street, Mehrling persuasively argues for a return to the classic central bankers' "money view," which looks to the money market to assess risk and restore faith in our financial system.
Product Identifiers
Publisher
Princeton University Press
ISBN-10
0691143986
ISBN-13
9780691143989
eBay Product ID (ePID)
84283744
Product Key Features
Publication Name
New Lombard Street : How the Fed Became the Dealer of Last Resort
Format
Hardcover
Language
English
Publication Year
2010
Type
Textbook
Number of Pages
192 Pages
Dimensions
Item Length
8.8in
Item Height
0.9in
Item Width
5.8in
Item Weight
12 Oz
Additional Product Features
Lc Classification Number
Hg2563.M36 2011
Reviews
"In Lombard Street , Walter Bagehot laid out the financial market lore and central banking wisdom of his day--the 1870s. Today's markets are different, and so is what constitutes useful policy. In The New Lombard Street , Perry Mehrling blends his rich historical knowledge with an acute analysis of current-day markets to suggest what constitutes sound central banking and financial regulation for our time. The result merits close attention from policymakers, and the rest of us too." --Benjamin M. Friedman, author of The Moral Consequences of Economic Growth, This is an excellent and accessible analysis for anyone wishing to understand the origins of the financial crisis and how the Fed came to respond as it did., "I continue to ponder Mehrling's main claims, but in any case this is an important book about the new Fed." --Tyler Cowen, Marginal Revolution, [T]he book can be read as an important contribution in the ongoing debate on the future of central banks. In terms of monetary policy thinking, this book is another contribution to the increasing awareness that central banks, perhaps lured by seeming success of inflation targeting, in the years before 2008 did not manage to strike the right balance between monetary and financial stability. ---Lars Fredrik Øksendal, Enterprise & Society, I continue to ponder Mehrling's main claims, but in any case this is an important book about the new Fed. -- Tyler Cowen, Marginal Revolution, "[I]mportant. . . . Mehrling's new book tries to do just what Bagehot did: to give an account both of how and why the Fed acted when it reinvented the rules in the middle of a financial crisis, and of what the implications for future monetary policy will be."-- Harold James, Central Banking Journal, "No one else has come close to the achievement of this book in relating the crisis to the prior history of monetary thought and central bank practice. A masterful, original, and beautifully constructed work." --Charles A. E. Goodhart, London School of Economics and Political Science, "This is an excellent and accessible analysis for anyone wishing to understand the origins of the financial crisis and how the Fed came to respond as it did." --Larry Hatheway, Business Economist, "This is an excellent and accessible analysis for anyone wishing to understand the origins of the financial crisis and how the Fed came to respond as it did."-- Larry Hatheway, Business Economist, With lucid precision, Mehrling traces the history of how Fed policy makers became biased toward 'excessive elasticity'. . . . Mehrling saves the best for the end, where he describes the Fed's battle to save the system with an alphabet soup of lending programs., [I]mportant. . . . Mehrling's new book tries to do just what Bagehot did: to give an account both of how and why the Fed acted when it reinvented the rules in the middle of a financial crisis, and of what the implications for future monetary policy will be. -- Harold James, Central Banking Journal, With lucid precision, Mehrling traces the history of how Fed policy makers became biased toward 'excessive elasticity'. . . . Mehrling saves the best for the end, where he describes the Fed's battle to save the system with an alphabet soup of lending programs. ---James Pressley, Bloomberg News, " The New Lombard Street makes a serious and successful effort to deepen our understanding not just of the last century or more of U.S. monetary history, but also of the way in which economic analysis has evolved alongside that history. I very much enjoyed reading this book. It is timely, provocative, and well written." --David Laidler, professor emeritus, University of Western Ontario, [I]mportant. . . . Mehrling's new book tries to do just what Bagehot did: to give an account both of how and why the Fed acted when it reinvented the rules in the middle of a financial crisis, and of what the implications for future monetary policy will be. ---Harold James, Central Banking Journal, I continue to ponder Mehrling's main claims, but in any case this is an important book about the new Fed. ---Tyler Cowen, Marginal Revolution, "I continue to ponder Mehrling's main claims, but in any case this is an important book about the new Fed."-- Tyler Cowen, Marginal Revolution, "[I]mportant. . . . Mehrling's new book tries to do just what Bagehot did: to give an account both of how and why the Fed acted when it reinvented the rules in the middle of a financial crisis, and of what the implications for future monetary policy will be." --Harold James, Central Banking Journal, In The New Lombard Street , Perry Mehrling . . . provides a lucid account of how the system worked when it was working--and of the growing role assumed by the Fed in an era of global economic volatility and 'credit-fueled bubbles.' -- Glenn C. Altschuler, Tulsa World, "[T]he book can be read as an important contribution in the ongoing debate on the future of central banks. In terms of monetary policy thinking, this book is another contribution to the increasing awareness that central banks, perhaps lured by seeming success of inflation targeting, in the years before 2008 did not manage to strike the right balance between monetary and financial stability."-- Lars Fredrik Øksendal, Enterprise & Society, "Important. . . . Mehrling's new book tries to do just what Bagehot did: to give an account both of how and why the Fed acted when it reinvented the rules in the middle of a financial crisis, and of what the implications for future monetary policy will be." ---Harold James, Central Banking Journal, "With lucid precision, Mehrling traces the history of how Fed policy makers became biased toward 'excessive elasticity'. . . . Mehrling saves the best for the end, where he describes the Fed's battle to save the system with an alphabet soup of lending programs."-- James Pressley, Bloomberg News, In The New Lombard Street , Perry Mehrling . . . provides a lucid account of how the system worked when it was working--and of the growing role assumed by the Fed in an era of global economic volatility and 'credit-fueled bubbles.' ---Glenn C. Altschuler, Tulsa World, "In The New Lombard Street , Perry Mehrling . . . provides a lucid account of how the system worked when it was working--and of the growing role assumed by the Fed in an era of global economic volatility and 'credit-fueled bubbles.'"-- Glenn C. Altschuler, Tulsa World, "[T]he book can be read as an important contribution in the ongoing debate on the future of central banks. In terms of monetary policy thinking, this book is another contribution to the increasing awareness that central banks, perhaps lured by seeming success of inflation targeting, in the years before 2008 did not manage to strike the right balance between monetary and financial stability." --Lars Fredrik Øksendal, Enterprise & Society, "The book can be read as an important contribution in the ongoing debate on the future of central banks. In terms of monetary policy thinking, this book is another contribution to the increasing awareness that central banks, perhaps lured by seeming success of inflation targeting, in the years before 2008 did not manage to strike the right balance between monetary and financial stability." ---Lars Fredrik Øksendal, Enterprise & Society, "A well-written, scholarly dissection that should be required reading for all graduate courses (and perhaps some advanced undergraduate) in macroeconomics or monetary economics."-- Choice, In The New Lombard Street , Perry Mehrling . . . provides a lucid account of how the system worked when it was working--and of the growing role assumed by the Fed in an era of global economic volatility and 'credit-fueled bubbles.', "This is a wonderful book that offers a fresh understanding of the role of the central bank in the world of modern finance." --Roger E. Backhouse, University of Birmingham, [I]mportant. . . . Mehrling's new book tries to do just what Bagehot did: to give an account both of how and why the Fed acted when it reinvented the rules in the middle of a financial crisis, and of what the implications for future monetary policy will be., "Informed by history, a model of clear thought and lucid prose, The New Lombard Street is by far our best guidebook to the changed structure of financial markets and the new role of the Federal Reserve. It also charts a new path for monetary policymakers and--given the scale of the crisis--not a minute too soon." --James K. Galbraith, author of The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too, "With lucid precision, Mehrling traces the history of how Fed policy makers became biased toward 'excessive elasticity'. . . . Mehrling saves the best for the end, where he describes the Fed's battle to save the system with an alphabet soup of lending programs." --James Pressley, Bloomberg News, "[T]he book can be read as an important contribution in the ongoing debate on the future of central banks. In terms of monetary policy thinking, this book is another contribution to the increasing awareness that central banks, perhaps lured by seeming success of inflation targeting, in the years before 2008 did not manage to strike the right balance between monetary and financial stability." --Lars Fredrik ksendal, Enterprise & Society, A well-written, scholarly dissection that should be required reading for all graduate courses (and perhaps some advanced undergraduate) in macroeconomics or monetary economics., "A well-written, scholarly dissection that should be required reading for all graduate courses (and perhaps some advanced undergraduate) in macroeconomics or monetary economics." -- Choice, "The global financial system is badly broken. Many institutions and individuals share responsibility for the development of pathologies in and around our largest banks, but the buck stops, literally and figuratively, with the Federal Reserve. If you would like to understand how this happened--and how we (and the Fed) might inch back from the precipice--read this book." --Simon Johnson, coauthor of 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown, "In The New Lombard Street , Perry Mehrling . . . provides a lucid account of how the system worked when it was working--and of the growing role assumed by the Fed in an era of global economic volatility and 'credit-fueled bubbles.'" --Glenn C. Altschuler, Tulsa World, A well-written, scholarly dissection that should be required reading for all graduate courses (and perhaps some advanced undergraduate) in macroeconomics or monetary economics. -- Choice, With lucid precision, Mehrling traces the history of how Fed policy makers became biased toward 'excessive elasticity'. . . . Mehrling saves the best for the end, where he describes the Fed's battle to save the system with an alphabet soup of lending programs. -- James Pressley, Bloomberg News, I continue to ponder Mehrling's main claims, but in any case this is an important book about the new Fed., This is an excellent and accessible analysis for anyone wishing to understand the origins of the financial crisis and how the Fed came to respond as it did. ---Larry Hatheway, Business Economist
Copyright Date
2011
Topic
Banks & Banking, Finance / General, Public Policy / Economic Policy, Money & Monetary Policy
Lccn
2010-023219
Dewey Decimal
332.110973
Intended Audience
College Audience
Dewey Edition
22
Illustrated
Yes
Genre
Business & Economics, Political Science
Item description from the seller
Seller assumes all responsibility for this listing.
eBay item number:395388846009
Postage and handling
Item location:
Calgary, Alberta, Canada
Post to:
Worldwide
Excludes:
APO/FPO, Alaska/Hawaii, Belarus, Kuwait, Macedonia, Morocco, Qatar, Russian Federation, Saudi Arabia, US Protectorates, Ukraine
| Postage and handling | Each additional item | To | Service | Delivery*See Delivery notes |
|---|---|---|---|---|
| Free postage | Free | United States | Economy Shipping | Estimated between Sat, 8 Jun and Mon, 17 Jun to 43230 |
| Handling time |
|---|
| Will usually post within 3 business days of receiving cleared payment. |
| Taxes |
|---|
| Taxes may be applicable at checkout. Learn moreLearn more about paying tax on eBay purchases. |
Sales Tax for an item #395388846009
Sales Tax for an item #395388846009
Seller collects sales tax for items shipped to the following states:
| State | Sales Tax Rate |
|---|
Return policy
| After receiving the item, contact seller within | Refund will be given as |
|---|---|
| 30 days after the buyer receives it | Money Back |
The buyer is responsible for return postage costs.
Seller feedback (1,023,980)
5***1 (218)- Feedback left by buyer.
Past month
Verified purchase
AAAA+
1***e (521)- Feedback left by buyer.
Past month
Verified purchase
Very fast service, item in excellent condition..
1***e (521)- Feedback left by buyer.
Past month
Verified purchase
Very fast service, item in excellent condition.