Download presentation
Presentation is loading. Please wait.
Published byDrusilla Grant Modified over 9 years ago
1
ทฤษฎีและนโยบาย การเงิน Monetary Theory and Policy Money Supply Process Reference: Money, the Financial System, and the Economy ( R. Glenn Hubbard )
2
Money Supply Impact on Interest Rate Exchange Rate Inflation Output of goods and Service Monetary Base Money Multiplier Money Supply
3
Monetary Base Money Multiplier Money Supply FED Banking System Non - Bank Public
4
The Fed and Monetary Base Asset Liability Balance Sheet FED Discount Loan Government SecurityCurrency in Circulation Reserve Monetary Base = Currency in circulation + Reserve
5
Held By Non – Bank public Currency in circulation = Currency Out. – Vault Cash Reserve = Deposit + Vault Cash Reserve = Required Reserve + Excess Reserve Required Reserve Ratio
6
Open Market Operation : Purchase 1$ from bank Change In Monetary Base Asset Liability Balance Sheet Bank A Reserve +1$ Security-1$ Asset Liability Balance Sheet FED Security+1$ Reserve+1$
7
Asset Liability Non - Bank Check Deposit +1$ Security-1$ Open Market Operation : Purchase 1$ from non – bank public Asset Liability Bank A Reserve+1$ Check deposit+1$ Asset Liability FED Security+1$ Reserve+1$
8
Asset Liability Non - Bank Currency +1$ Security-1$ Open Market Operation : Purchase 1$ from non – bank public Asset Liability FED Security+1$ Reserve+1$ Check Withdraw
9
Asset Liability Balance Sheet Bank A Reserve -1$ Security+1$ Open Market Operation : Sale 1$ from bank Change In Monetary Base ( Decrease ) Asset Liability Balance Sheet FED Security-1$ Reserve-1$
10
Asset Liability Non - Bank Check Deposit -1$ Security+1$ Open Market Operation : Sale 1$ from non – bank public Asset Liability Bank A Reserve-1$ Check deposit-1$ Asset Liability FED Security-1$ Reserve-1$
11
Discount Loan : FED Lend to Bank Change In Monetary Base Asset Liability Balance Sheet Bank A Reserve+1$Discount Loan +1$ Asset Liability Balance Sheet FED Discount Loan +1$ Reserve+1$
12
Discount Loan : Bank Repay to FED Asset Liability Balance Sheet Bank A Reserve-1$Discount Loan -1$ Asset Liability Balance Sheet FED Discount Loan -1$ Reserve-1$
13
Simple Deposit Multiplier : Purchase Security Asset Liability Balance Sheet Bank A Reserve +1$ Security-1$ Excess Reserve? Asset Liability Balance Sheet Bank A Reserve +1$ Security-1$ Loan +1$ Check Deposit +1$ Noon Corporation
14
Check Withdraw Asset Liability Balance Sheet Bank A Reserve +0$ Security-1$ Loan +1$ Check Deposit +0$ This Case have no effect to Monetary Base?
15
Asset Liability Bank B Reserve+1$Check deposit +1$ Bank B Multiple Deposit Expansion ( Ratio =10% ) O Corporation Noon Corporation Asset Liability Reserve +0.1$ Check Deposit+1$ Loan +0.9$ Sicha Corporation
16
Reserve+0.09$Check deposit +0.9$ Loan+0.81$ AssetLiability Bank C Sicha Corporation Assume : No Excess Reserve + Constant Required Ratio
17
Money Multiplier ( Non – Bank Public ) M S = Currency + Check Deposit Currency Deposit Ratio = Excess Reserve Ratio =
18
Determinants of Portfolio Choice Wealth Expected Return on Deposit Risk of Deposit Liquidity Information Cost
19
Multiplier
Similar presentations
© 2024 SlidePlayer.com. Inc.
All rights reserved.