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dc.contributor.advisorWray, L. Randalleng
dc.contributor.authorDe Rezende, Felipe Carvalhoeng
dc.date.issued2012-06-15eng
dc.date.submitted2012 Springeng
dc.descriptionTitle from PDF of title page, viewed on June 15, 2012eng
dc.descriptionDissertation advisor: L. Randall Wrayeng
dc.descriptionVitaeng
dc.descriptionIncludes bibliographic references (p. 148-169)eng
dc.descriptionThesis (Ph.D.)--Dept. of Economics and Dept. of Mathematics and Statistics. University of Missouri--Kansas City, 2012eng
dc.description.abstractIn the past years there has been increasing interest in shadow banking institutions. Economists identified the shadow banking system at the core of the 2007-2008 Global Financial Crisis and it was a key component of the transmission of fragility within the U.S. financial system. This study explains the emergence and growth of shadow banking institutions in the U.S. financial system and investigates the implications for monetary and fiscal policies. While the traditional banking literature puts the burden on the bank regulatory system implemented in the 1930s to explain the emergence of the shadow banking system, the discussion about the coordination between monetary policy objectives and regulatory policies designed to promote financial stability had received little or no attention. Competition between regulated and unregulated (or less regulated) financial institutions generated and allowed for the growth of new financial institutions (shadow banks) that attempted to escape regulations imposed by the New Deal reform. The banking reforms implemented in the 1930s implicitly required the coordination between monetary policy and the regulatory framework. The relationship between the growth of shadow banks and the relative importance of debt markets is further explored to investigate the effects of monetary policy on financial assets.eng
dc.description.tableofcontentsIntroduction -- The structure and evolution of the U.S. financial system during the 1945-1986 period -- Liquidity preference, demand for financial assets, and monetary policy -- Liquidity trap, quantitative easing and asset prices -- Conclusion -- Appendixeng
dc.format.extentx, 170 pageseng
dc.identifier.urihttp://hdl.handle.net/10355/14670eng
dc.publisherUniversity of Missouri--Kansas Cityeng
dc.subject.lcshFiscal policy -- United Stateseng
dc.subject.lcshMonetary policy -- United Stateseng
dc.subject.otherDissertation -- University of Missouri--Kansas City -- Economicseng
dc.subject.otherDissertation -- University of Missouri--Kansas City -- Mathematicseng
dc.titleThe evolution of the U.S. financial architecture, asset prices, and the role of fiscal and monetary policyeng
dc.typeThesiseng
thesis.degree.disciplineEconomics (UMKC)eng
thesis.degree.disciplineMathematics (UMKC)eng
thesis.degree.grantorUniversity of Missouri--Kansas Cityeng
thesis.degree.levelDoctoraleng
thesis.degree.namePh.D.eng


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