Modernizing a Classic of Monetary Theory

Dr. Perry Merhling discusses his book, 'The New Lombard Street,' which explores modern money markets and the role of the Federal Reserve during crises. Inspired by Walter Bassett's study of the Bank of England, Merhling updates the concept to focus on the New York and dollar money markets. He aims to bridge practical insights from bankers with academic theories on monetary policy and rational expectations, drawing from Marcia Stigum's work. The book serves as a reference for traders and connects historical and theoretical perspectives on money markets.

What is the primary focus of Dr. Perry Merhling's book, 'The New Lombard Street'?

• The evolution of European financial markets

• The role of the Federal Reserve in modern money markets

• The history of the Bank of England

• The impact of technology on banking

Which historical book inspired Dr. Merhling's 'The New Lombard Street'?

• The General Theory of Employment, Interest, and Money

• The Wealth of Nations

• Lombard Street by Walter Bassett

• The Road to Serfdom

What is the main analogy Dr. Merhling uses for the new money markets?

• The New York and dollar money markets

• The London Stock Exchange

• The European Union

• The Asian financial markets

What is Marcia Stigum's contribution to the understanding of money markets?

• A theoretical framework for banking

• A guide to international trade

• A historical account of the Federal Reserve

• A detailed manual on money market instruments

How does Dr. Merhling aim to connect his book to the academic literature?

• By integrating historical and theoretical views

• By ignoring the role of bankers

• By focusing solely on historical events

• By providing a purely theoretical analysis