资源描述：
《曼昆宏观经济学课件 ppt 30》由会员上传分享，免费在线阅读，更多相关内容在教育资源-天天文库。
1、CHAPTER30MoneyGrowthandInflationEcoPRINnCIPoLEmSOFicsN.GregoryMankiwPremiumPowerPointSlidesbyRonCronovich©2009South-Western,apartofCengageLearning,allrightsreservedInthischapter,lookfortheanswerstothesequestions:§Howdoesthemoneysupplyaffectinflationandnom
2、inalinterestrates?§DoesthemoneysupplyaffectrealvariableslikerealGDPortherealinterestrate?§Howisinflationlikeatax?§Whatarethecostsofinflation?Howseriousarethey?1Introduction§ThischapterintroducesthequantitytheoryofmoneytoexplainoneoftheTenPrinciplesofEcono
3、micsfromChapter1:Pricesrisewhenthegovtprintstoomuchmoney.§MosteconomistsbelievethequantitytheoryisMONEYGROWTHANDINFLATION21TheValueofMoney§P=thepricelevel(e.g.,theCPIorGDPdeflator)Pis§1/Pis§Example:basketcontainsonecandybar.§IfP=$2,valueof$1is1/2candybar§
4、IfP=$3,valueof$1is1/3candybar§InflationdrivesuppricesandMONEYGROWTHANDINFLATION3TheQuantityTheoryofMoney§Developedby18thcenturyphilosopherDavidHumeandtheclassicaleconomists§AdvocatedmorerecentlybyNobelPrizeLaureateMiltonFriedman§§Westudythistheoryusingtwo
5、approaches:1.Asupply-demanddiagram2.AnequationMONEYGROWTHANDINFLATION4MoneySupply(MS)§Inrealworld,determinedbyFederalReserve,thebankingsystem,consumers.§Inthismodel,weassumeMONEYGROWTHANDINFLATION52MoneyDemand(MD)§Refersto§Dependson§Thus,quantityofmoneyde
6、mandedis_____________relatedtothevalueofmoneyand___________relatedtoP,otherthingsequal.(These“otherthings”includerealincome,interestrates,availabilityofATMs.)MONEYGROWTHANDINFLATION6TheMoneySupply-DemandDiagramValueofPriceMoney,1/PLevel,P11¾1.33½2¼4Quanti
7、tyofMoneyMONEYGROWTHANDINFLATION7TheMoneySupply-DemandDiagramValueofPriceMoney,1/PMS1Level,P11¾1.33TheFedsetsMS½2atsomefixedvalue,regardlessofP.¼4$1000QuantityofMoneyMONEYGROWTHANDINFLATION83TheMoneySupply-DemandDiagramValueofAfallinvalueofmoneyPriceMoney
8、,1/P(orincreaseinP)Level,Pincreasesthequantity1ofmoneydemanded:1¾1.33½2¼4MD1QuantityofMoneyMONEYGROWTHANDINFLATION9TheMoneySupply-DemandDiagramValueofPriceMoney,1/PMS1Level,P11¾1.33½2¼4MD1$1000QuantityofMoneyMONEYGR
