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Discussion — Lecture 9: The World that Bagehot Knew
Perry Mehrling's Money and Banking MOOC
Location:
Online
Type:
Other
YSI Presenters
Description
This session covers Lecture 9: The World That Bagehot Knew
From the nineteenth-century international gold standard, we can draw insights that apply to the globally financialized world of today. We learn about the origins of monetary policy in the discount mechanism and the manipulation of the discount rate. This lecture connects up with the Walter Bagehot reading from last week, as well as the Allyn Young reading we did at the beginning.
We transition from thinking of banking as a payments system to thinking of banking as market-making. Previously, we focused on the par price of money. Starting now, and for the next several weeks, we will more deeply explore interest rates—especially how dealers determine interest rates.
Hosted by Working Group(s):
Organizers
Attendees
Alex Howlett
Jim Bramlett
Chris Rimmer
Özge Özay
Jay Pocklington
Lokesh Shah
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