货币理论与货币政策.ppt

《货币理论与货币政策.ppt》由会员上传分享，免费在线阅读，更多相关内容在PPT专区-天天文库。

1、四、货币理论与货币政策MONETARYTHEORYANDMONETARYPOLICY金融资产结构货币与货币供给=流通中现金=+活期存款=+定期存款=+其他短期流动资产（如国库券、银行承兑汇票、商业票据）+外汇存款有价证券：分为政府债券和企业债券两种。股票。TheMeaningofMoneyMoneyisthesetofassets（资产）intheeconomythatpeopleregularlyusetobuygoodsandservicesfromotherpeople.ThreeFunctionsofMoneyMoneyhasthreefunctionsintheecono

2、my.äMediumofexchange（交换媒介）äUnitofaccount（计量单位）äStoreofvalue（贮藏价值）MediumofExchangeAmediumofexchangeisanythingthatisreadilyacceptableaspayment.UnitofAccountAunitofaccountistheyardstickpeopleusetopostpricesandrecorddebts.StoreofValueAstoreofvalueisanitemthatpeoplecanusetotransferpurchasingpower（购

3、买力）fromthepresenttothefuture.Liquidity（流动性）Liquidityistheeasewithwhichanassetcanbeconvertedintotheeconomy’smediumofexchange.TheKindsofMoneyCommoditymoney（商品货币）takestheformofacommoditywithintrinsicvalue（内在价值）.äExamples:Gold,silver,cigarettesFiatmoney（法定货币）isusedasmoneybecauseofgovernmentdecree.

4、äItdoesnothaveintrinsicvalue.äExamples:Coins,currency,checkdepositsMoneyintheEconomyCurrency（通货）isthepaperbillsandcoinsinthehandsofthepublic.Demanddeposits（活期存款）arebalancesinbankaccountsthatdepositorscanaccessondemandbywritingacheck.中央银行职能垄断发行本国的法定货币。以债务方式接受存款机构缴存的存款准备金，以垫款或票据再贴现方式对存款机构发放贷款，承担

5、金融机构之间的票据交换和结算业务。代理国库，即经办政府的收支，管理国家的外汇，制定和实施国家的金融政策。TheFederalReserve联邦储备体系TheFederalReserve(Fed)servesasthenation’scentralbankäItisdesignedtooverseethebankingsystem.äItregulatesthequantityofmoneyintheeconomy.TheFederalReserveTheFedwascreatedin1914afteraseriesofbankfailuresconvincedCongress（国会

6、）thattheU.S.neededacentralbanktoensurethehealthofthenation’sbankingsystem.TheFed’sOrganizationTheFedisrunbyaBoardofGovernors（董事局）,whichhassevenmembersappointedbythePresidentandconfirmedbytheSenate（参议院）.TheFed’sOrganizationThechairmanoftheboardpresidesatboardmeetings,directsthestaff,andtestifie

7、saboutFedpolicy.TheFed’sOrganizationTheFederalReserveSystem（联邦储备体系）ismadeupoftheFederalReserveBoardinWashington,D.C.,andtwelveregionalFederalReserveBanks（联邦储备银行）.TheFed’sOrganizationMonetarypolicy（货币政策）isconductedbytheFederalOpenMarketC