金融英语重点.docVIP

名词 货币Money as a medium of exchange 货币供给Money supply refers to the whole process in which money is put into circulation, created, and expanded or contracted in a nation’s economy. The extension of modern money In an economy exist various kinds of money, not only currency. Money supply refers to the collection of all kinds of money in an economy. Money issued in the form of currency is only one part of money supply. So each country employs fairly standard measures of money that include the volume of currency in circulation and the volume of deposits at any point of time. Typically, several measures of money are reported, differentiated by the types of deposits ( and close substitute for deposits) they include. One measure of money is known as narrow measure including currency and demand deposits used for everyday expenditures. Broader measures of money add time deposits, savings account and certain other financial assets. It is liquidity of money that is the most helpful in dividing our measures of the money supply. （1）The general measure of money supply货币供给一般措施 Each country publishes several different measures of money supply to show the effects on economy. For example, money in circulation is defined as follows: a. The narrow measure of money supply: M0 and M1 M0 is the currency or cash in circulation including bank notes and coins. M0 is also called base money that measures the quantity of currency issued by the central bank. M1 = M0 + Dd M1 comprises those assets which are themselves acceptable in exchange and normally held with the intention of spending them in the immediate future. M1 includes M0, plus Dd—checkable or demand deposits at banks. M1 measures transaction balances. （2）The broader measure of money supply: M2 and M3 Although traditionally the majority of economists have preferred the M1 money supply measure, others have preferred the broader measure of money supply. If one is inclined to emphasize the store-of-value function of money rather than th