欢迎来到天天文库
浏览记录
ID:55621640
大小:228.50 KB
页数:36页
时间:2020-05-20
《FMI7e_ch05Monetary Theory and Policy(金融市场好机构―7e, by Jeff Madura)).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、Chapter5MonetaryTheoryandPolicyFinancialMarketsandInstitutions,7e,JeffMaduraCopyright©2006bySouth-Western,adivisionofThomsonLearning.Allrightsreserved.1ChapterOutlineMonetarytheoryTradeofffacedbytheFedEconomicindicatorsmonitoredbytheFedLagsinmonetarypolicyAss
2、essingtheimpactofmonetarypolicyIntegratingmonetaryandfiscalpoliciesGlobaleffectsofmonetarypolicy2MonetaryTheoryPureKeynesianTheoryOneofthemostpopulartheoriesinfluencingtheFedDevelopedbyJohnMaynardKeynesSuggestshowtheFedcanaffecttheinteractionbetweenthedemandf
3、ormoneyandthesupplyofmoneytoinfluence:InterestratesTheaggregatelevelofspendingEconomicgrowth3MonetaryTheory(cont’d)PureKeynesianTheory(cont’d)CanbeexplainedbyusingtheloanablefundsframeworkDemandforandsupplyofloanablefundsdeterminetheequilibriuminterestrateThe
4、businessinvestmentscheduleillustratestheinverserelationshipbetweeninterestratesonloanablefundsandthelevelofbusinessinvestment4MonetaryTheory(cont’d)PureKeynesianTheory(cont’d)CorrectingaweakeconomyTheFedwoulduseopenmarketoperationstoincreasethemoneysupplyAhig
5、herlevelofthemoneysupplywouldreduceinterestratesLowerinterestratesencouragemoreborrowingandspendingKeynesianphilosophyadvocatesanactiveroleforthegovernmentincorrectingeconomicproblems5MonetaryTheory(cont’d)S2CorrectingaWeakEconomyD1i2i1S1DemandandSupplyofLoan
6、ableFundsBusinessInvestmentSchedulei1i2B1B26MonetaryTheory(cont’d)PureKeynesianTheory(cont’d)CorrectinghighinflationTheFedwouldsellTreasurysecurities(decreasethemoneysupply)AlowerlevelofthemoneysupplyreducesthelevelofspendingLessspendingslowseconomicgrowthand
7、reducesinflationarypressure(demand-pullinflation)7MonetaryTheory(cont’d)S1CorrectingHighInflationD1i1i2S2DemandandSupplyofLoanableFundsBusinessInvestmentSchedulei2i1B2B18MonetaryTheory(cont’d)PureKeynesianTheory(cont’d)Effectsofacreditcrunchonastimulativepoli
8、cyTheeconomicimpactofmonetarypolicydependsonthewillingnessofbankstolendfundsIfbanksareunwillingtoextendcreditdespiteastimulativepolicy,theresultisacreditcrunchAcreditcrunchcanoccurduringa
此文档下载收益归作者所有