MankiwEconomicsChap27中山大学吴柏林教授“曼昆·经济学原理”绝密资料.ppt

* * * * * * * * * * * * * * Money Creation When one bank loans money, that money is generally deposited into another bank. This creates more deposits and more reserves to be lent out. When a bank makes a loan from its reserves, the money supply increases. Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. Assets Liabilities First National Bank Reserves $10.00 Loans $90.00 Deposits $100.00 Total Assets $100.00 Total Liabilities $100.00 Assets Liabilities Second National Bank Reserves $9.00 Loans $81.00 Deposits $90.00 Total Assets $90.00 Total Liabilities $90.00 Money Supply = $190.00! Money Creation Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. The Money Multiplier How much money is eventually created in this economy? ? Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. The Money Multiplier The money multiplier is the amount of money the banking system generates with each dollar of reserves. Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. The Money Multiplier How much money is eventually created in this economy? Original deposit = $ 100.00 First National lending = $ 90.00 [=0.9 x $100.00] Second National lending = $ 81.00 [=0.9 x $90.00] Third National lending = $ 72.90 [=0.9 x $81.00] ˉ ˉ ˉ ˉ Total money supply = $1,000 Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. The Money Multiplier The money multiplier is the reciprocal of the reserve ratio: M = 1/R With a reserve requirement, R = 20% or 1/5, The multiplier is 5. Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. Fed’s Tools of Monetary Control The Fed has three tools in its mon