Modern Money Mechanics

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1、ModernMoneyMechanicsAWorkbookonBankReservesandDepositExpansionFederalReserveBankofChicagoModernMoneyMechanicsThepurposeofthisbookletistodescribethebasicMoneyissucharoutinepartofeverydaylivingthatprocessofmoneycreationinafractionalreserve"bank•itsexistenceandacceptanceordinarilyaretakenforgrant•ed.

2、Ausermaysensethatmoneymustcomeintobeingingsystem.Theapproachtakenillustratesthechangeseitherautomaticallyasaresultofeconomicactivityorasinbankbalancesheetsthatoccurwhendepositsinbanksanoutgrowthofsomegovernmentoperation.ButjusthowchangeasaresultofmonetaryactionbytheFederalthishappensalltoooftenrem

3、ainsamystery.ReserveSystem—thecentralbankoftheUnitedStates.WhatIsMoney?TherelationshipsshownarebasedonsimplifyingIfmoneyisviewedsimplyasatoolusedtofacilitateassumptions.Forthesakeofsimplicity,therelationshipstransactions,onlythosemediathatarereadilyacceptedinareshownasiftheyweremechanical,buttheya

4、renot,exchangeforgoods,services,andotherassetsneedtobeasisdescribedlaterinthebooklet.Thus,theyshouldnotconsidered.Manythings—fromstonestobaseballcards—haveservedthismonetaryfunctionthroughtheages.beinterpretedtoimplyacloseandpredictablerelation•Today,intheUnitedStates,moneyusedintransactionsisship

5、betweenaspecificcentralbanktransactionandmainlyofthreekinds—currency(papermoneyandcoinsthequantityofmoney.inthepocketsandpursesofthepublic);demanddeposits(non-interest-bearingcheckingaccountsinbanks);andTheintroductorypagescontainabriefgeneralothercheckabledeposits,suchasnegotiableorderofdescripti

6、onofthecharacteristicsofmoneyandhowthewithdrawal(NOW)accounts,atalldepositoryinstitutions,U.S.moneysystemworks.Theillustrationsinthefol•includingcommercialandsavingsbanks,savingsandloanassociations,andcreditunions.Travelerschecksalsoarelowingtwosectionsdescribetwoprocesses:first,howincludedinthede

7、finitionoftransactionsmoney.Since$1bankdepositsexpandorcontractinresponsetochangesincurrencyand$1incheckabledepositsarefreelycon•intheamountofreservessuppliedbythecentralbank;vertibleintoeachotherandbothcanbeused