Principles of Money, Banking and Financial Markets

In the revision of this leading text, the authors incorporate the latest research and data while taking stock of sweeping changes in the international financial landscape produced by financial innovation, deregulation, and geopolitical considerations. With their well-known, casual, conversational style, the authors make sophisticated concepts accessible, such as asset pricing, financial contracting, and rational expectations.

Lawrence S. Ritter is Professor of Finance and Economics at the Stern School of Business of New York University. A former Chief of the Domestic Research Division of the Federal Reserve Bank of New York, he has served as a consultant to the U.S. Treasury, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the American Bankers Association, the Association of Reserve City Bankers, and the Garvin Guy Butler Corporation. He has been the Editor of the Journal of Finance and is a past President of the American Finance Association. Professor Ritter is also the author of numerous articles in professional journals and of The Glory of Their Times, a best-selling book about the early days of baseball.

William L. Silber is the Dean Abraham Gitlow Professor of Finance and Economics and Director, Glucksman Institute for Research in Securities Markets at the Stern School of Business of New York University. A former Senior Staff Economist with the President's Council of Economic Advisers and a former Senior Vice President at Lehman Brothers Kuhn Loeb, he has served as a consultant to the Board of Governors of the Federal Reserve System, the President's Commission on Financial Structure and Regulation, the U.S. Senate Committee on the Budget, the House Committee on Banking, Currency and Housing, the Justice Department, the Federal Home Loan Bank Board, the National Commission on Electronic Funds Transfers, and the Department of Housing and Urban Development. He is on the Economic Advisory Panel of the Federal Reserve Bank of New York and is the author of five books and numerous articles in professional journals.

Gregory F. Udell is the NBD Professor of Banking and Finance at the Kelley School of Business of Indiana University. He was formerly a banker and commercial loan officer in Chicago specializing in lending to small and midsized midwestern companies. Currently his academic research focuses on banking and financial contracting. He has published numerous articles in academic journals including the Journal of Political Economy, the Journal of Financial Economics, the Journal of Monetary Economics and the Journal of Business. He is an associate editor of the Journal of Money, Credit and Banking and the Journal of Banking and Finance. Professor Udell has been a visiting economist and consultant to the Board of Governors of the Federal Reserve System.