9: The World that Bagehot Knew

Lecture PDF

Lec 9-1: FT: Depreciation of Iran’s currency

FT article link

Lec 9-2: Reading: John Hicks

John Hicks Reading

“A Suggestion for Simplifying the Theory of Money”  Economica 1935

Lec 9-3: Bagehot’s World, wholesale money market

Lec 9-4: Economizing on notes: deposits, acceptances

Lec 9-5: Managing cash flow: discount, rediscount

Lec 9-6: Market rate of interest

Lec 9-7: Central Bank and bank rate

balance sheet of Bank of England

Lec 9-8: The Bagehot Rule, origin of monetary policy

Hawtrey’s Art of Central Banking

Lec 9-9: Limits on central banking: internal vs. external drain