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大小:616.95 KB
页数:4页
时间:2019-07-04
《Understanding the Liquidity Pref Theory-3》由会员上传分享,免费在线阅读,更多相关内容在学术论文-天天文库。
1、UnderstandingtheLiquidityHowtheGovernmentEstimatesUnemploymentPreferenceTheoryCharlesN.Anderson©Copyright2011byCharlesN.Anderson.1AllRightsReserved.TheUniversalLawofRelativeScarcity(LRS)Thisteetertotterstylemodelisusedtodemonstratetheinverserelationshipbetweenbondpr
2、icesandinterestrates.I.Definitionandthingstoknow20%$2,00010%$1,0005%$500Bondprice=Incomeflowdividedbytheinterestrate,or,PB=fixedincomeflow/interestrate2©Copyright2012byCharlesN.Anderson.AllRightsReserved.TheUniversalLawofRelativeScarcity(LRS)MoneyMarketBondMarketiI.
3、DefinitionandthingstoknowiBD10%A10%A’BB’3%3%MDMB9001,2002002,5003©Copyright2012byCharlesN.Anderson.AllRightsReserved.TheUniversalLawofRelativeScarcity(LRS)InterestRateMoneyI.Definitionandthingstoknowsupplyr1•Equilibriuminterest•rater2•Moneydemand0??Quantityfixedby?2
4、?QuantityofMoney1theFed4©Copyright2012byCharlesN.Anderson.AllRightsReserved.
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